Al-Jazira Bank Saudi Arabia redeems 500M USD bonds

Aljazira Bank of Saudi Arabia has redeemed its first tranche sukuk worth $500 million, fully repaid in exchange for 2,500 shares valued at $200,000 per share, after obtaining the necessary regulatory approvals. It is worth mentioning that the bank, established in 1975 with a market value of approximately 15 billion riyals, recorded a net profit of 1.5 billion riyals last year, a 22% increase. For the first time in three years, it distributed dividends amounting to 0.5 riyals per share.

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