Riyadh – Mubasher: The Capital Market Authority (CMA) passed Dallah Healthcare Company’s request to increase its capital to SAR 976.81 million from SAR 900 million for a potential equity acquisition.
The firm will raise its capital by issuing 7.68 million ordinary shares to acquire an 18.98% equity in International Medical Center Company (IMC), according to a bourse disclosure.
It is worth noting that the CMA granted its approval for the transaction on 24 November 2022.
Last June, Dallah Healthcare increased its ownership in IMC to 27.18% by purchasing Kun Investment Holding Company’s entire shares in the latter for SAR 711.63 million.
In 2021, the Tadawul-listed firm acquired an 8.20% stake in IMC at a value of SAR 289 million.
During the January-September 2022 period, Dallah Healthcare logged net profits after Zakat and tax worth SAR 196.02 million, an annual growth of 30.68% from SAR 150 million.