Medtech Distributes MVR 2 Million in Debut Sukuk Payout

Medtech Diagnostics Pvt Ltd has announced that the company successfully distributed the first periodic payment of MVR 2 million to its sukuk holders on November 26, 2023.

This achievement stands as a historic milestone, being the highest sukuk profit payment distributed in the country. The Sukuk was listed on the Viyana Platform of the Maldives Stock Exchange on April 19, 2023, and raised over MVR 20.4 million.

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As per the Sukuk prospectus, Sukuk holders are set to receive bi-annual payments over the next 7 years.

The proceeds from the Sukuk finance the ongoing development of the Health and Rehabilitation Centre Project in Hulhumale City. The Lead Arranger for this issue is First National Finance Corporation Pvt Ltd.

The CEO of First National expressed satisfaction with the success and acknowledged the management of Medtech Diagnostics for the prompt distribution of the Sukuk payment to investors. As Lead Arranger, the CEO of First National will engage with the Medtech Diagnostics team to ensure future returns align with the Sukuk prospectus. 

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