KPJ Healthcare Issues Maiden Wakalah Sukuk, the First by a Healthcare Industry Player in the Local Sukuk Market

KPJ Healthcare Issues Maiden Wakalah Sukuk, the First by a Healthcare Industry Player in the Local Sukuk Market

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KPJ Healthcare Berhad (KPJ Healthcare) has announced the issuance of its maiden Wakalah Sukuk offering of MYR 650 million (USD 155 million) under its MYR 3 billion (USD 715.6 million) Sukuk Wakalah Programme on the 28th of February 2022.

Why it Matters?

The issuance represents the first local offering by a healthcare industry player and marks KPJ Healthcare’s return to the local Sukuk market after a decade. The negotiation process for the offering began on the 23rd of February 2022, receiving overwhelming demand from various capital market investors. The Sukuk was thus upsized from an initial amount of MYR 500 million (USD 119 million) and received a subscription of MYR 6.7 billion (USD 1.6 billion), seeing an oversubscription of 10.3 times. Pro...