Investor demand exceeds target as ADK’s second bond tranche closes at MVR 70m

ADK Hospital has successfully sold the second tranche of its MVR 120 million bond programme, raising MVR 70 million from the issue.

This marks the largest fundraising programme facilitated by First National Finance Corporation through the capital market in the past four years.

The ADK bond carries a five‑year term with a fixed annual coupon rate of eight percent. ADK said the strong investor appetite, with demand exceeding the target, reflects growing confidence in both the hospital’s long‑term vision and the Maldives’ capital market.

According to the hospital, proceeds from the bond will be used to construct a 13‑storey building, expand inpatient and outpatient capacity, and introduce additional state‑of‑the‑art medical services. ADK expects the project to strengthen the national health system and reduce the need for patients to seek treatment abroad.

Rotime Engineering and Technology has been appointed as the main contractor for the new building. Site clearance has been completed and construction preparations are underway.

ADK Hospital’s bond programme has successfully closed oversubscribed, marking the largest private market fundraising completed by a single issuer in Maldives history.

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ADK Managing Director Ahmed Afaal said the successful completion of the bond programme is a significant boost for both the hospital and the wider capital market.

“The response from investors indicates that confidence in such investment opportunities has grown, and that the health sector now has the assurance needed to expand its infrastructure and improve service quality,” Afaal said.

First National Finance Corporation CEO Hassan Ziyath said the oversubscription demonstrates strong investor interest in well‑performing companies and shows the capital‑market ecosystem is maturing.

ADK Hospital is the largest private tertiary hospital in the Maldives under the ADK Group.