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Jabal Omar completes redemption of $135m Sukuk

Jabal Omar completes redemption of $135m Sukuk
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JABAL OMAR
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Riyadh – Mubasher: Jabal Omar Development Company has fully redeemed its Sukuk at an aggregated value of $135 million, according to a bourse disclosure.

The listed firm pointed out that the value of the redeemed Sukuk reached $67.50 million, adding that the percentage of the transaction hit 50%.

Issued on 15 November 2018, a total of 337.50 Sukuk notes were redeemed at a par value of $200,000 each.

In the first nine months (9M) of 2023, Jabal Omar turned profitable at SAR 237.55 million, compared to net losses after Zakat and tax valued at SAR 157.98 million in 9M-22.

The revenues jumped by 64.97% to SAR 1 billion as of 30 September 2023 from SAR 609.92 million in the year-ago period.