Riyadh – Mubasher: Al Baha Investment and Development Company completed the acquisition procedure of Al Marakiz Al Raqiyah Ltd by issuing 14.5 million shares.

The company noted that it has fully acquired the stake of the other company and expected that this move will enhance its operations and increase revenues, according to a bourse filing on Thursday.

The financial impact will appear on the financial results of the second quarter of 2017.

On 2 May, Al Baha approved the capital increase to acquire Al Marakiz Al Raqiyah Ltd.