Medtech Diagnostics Pvt Ltd has announced the successful distribution of over MVR 2 million as the second periodic payment to its Sukuk holders. This milestone was reached on 26 May 2024, following the initial distribution of over MVR 2 million on 26 November 2023.
According to the Sukuk prospectus, holders are set to receive bi-annual payments over the next six years. This financial instrument, listed on the Viyana Platform of the Maldives Stock Exchange in April 2023, marked a significant achievement as the first Shari’ah-compliant issuance by a private company through this platform. The initial offering raised over MVR 20.4 million.
First National Finance Corporation played a crucial role as the Lead Arranger for this issuance. Known for its leadership in the capital market sector, First National Finance Corporation has successfully facilitated numerous firms in raising capital while simultaneously providing investors with enhanced access to investment opportunities.
This successful distribution illustrates Medtech Diagnostics’ commitment to meeting its financial obligations and highlights the robustness of the Maldives’ capital markets, which continue to offer viable and attractive investment avenues for both local and international investors.
