Dar Al Arkan recovers Islamic bonds worth 600 dollars.

Aldar Al-Akkan Real Estate reported to the Saudi Exchange on Monday that it has fully redeemed the Islamic bonds - the sixth tranche - valued at $600 million, with a redemption rate of 100% of the total issuance. The company had issued them in October 2019.

Aldar Al-Akkan Real Estate also clarified that the total number of redeemed bonds is 3,000, with the nominal value of the bond at redemption being $200,000.

Additionally, Aldar Al-Akkan Real Estate stated that the financial impact of this operation will appear in the results of the first quarter of the current financial year 2025, indicating that it used its internal resources for the redemption of the bonds at maturity and transferred the bond amount to the designated account.

At the close of trading in Saudi Arabia on Monday, Aldar Al-Akkan Real Estate's share (TADAWUL: 4300) recorded a decline of about 1.92%, ending the session at a level of 17.36 Saudi Riyals per share.