Riyadh – Mubasher: Saudi Arabia-based Al Ahsa Development on Wednesday announced singing an agreement with Twareat Medical Company to purchase a 25% stake at a value of SAR 15 million ($4 million).

Al Ahsa will finance the transaction from its self-financing resources, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm further noted that this deal is part of its strategic expansion plan and forecast that the transaction’s financial impact will be positive.

By 10:52 am Saudi time, Al Ahsa Development’s stock increased 2.80% to SAR 10.26.