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Dallah Healthcare’s board proposes 20% capital hike

Dallah Healthcare’s board proposes 20% capital hike
The new capital will total SAR 900 million
-1.52% 45.30 -0.70

Riyadh – Mubasher: The board of Dallah Healthcare Company recommended increasing the company’s capital through the issuance of bonus shares, during its meeting held on Wednesday 26 February.

This will raise the capital by 20% to reach SAR 900 million from a current SAR 750 million, according to a stock exchange filing on Thursday.

Following the increase, the number of shares will rise to 90 million from 75 million, as one bonus share will be granted for every five shares held.

The company will use SAR 150 million from the statutory reserve and share premium to finance the capital hike.

Moreover, the said increase will enable the company to adjust its share capital to its level of assets while contributing to its investments and future expansions, Dallah Health revealed.

The firm further highlighted that eligibility will be to the shareholders holding shares on the eligibility date and who are registered in the Shareholders Registry at the Deposit Center at the end of the second business day following the eligibility date.

It is noteworthy that the bonus share capital increase will be subject to the approval of official authorities and the extraordinary general meeting (EGM).