Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) announced approving Al-Ahsa Development Company’s request to increase its capital from SAR 490 million to SAR 737.32 million.

The capital hike will be carried out by issuing about 24.7 million ordinary shares to acquire all the shares of Al-Salam Medical Services Company, according to a statement to the Saudi Stock Exchange (Tadawul).

Updates on the capital increase and all relevant information will be published within sufficient time before the company’s extraordinary general assembly meeting (EGM), the statement noted.

Al-Ahsa recently extended a memorandum of understanding (MoU) to acquire Al Salam Medical Services Company until 28 November.