The shareholders of Dallah Healthcare Company agreed to raise its capital to SAR 976.81 million from SAR 900 million, according to a bourse disclosure.
The capital increase will enable the Tadawul-listed firm to acquire an 18.98% stake in the International Medical Center Company (IMC).
In order to carry out the transaction, Dallah Healthcare will issue 7.68 million new ordinary shares in favour of Kun Investment Holding Company at a nominal value of SAR 76.81 million. This will be in exchange for transferring 14.23 million of Kun Investment’s ordinary shares in IMC.
Dallah Healthcare’s shareholders greenlighted the capital hike during the extraordinary general meeting (EGM) that was held on 27 December 2022, whereas the Capital Market Authority (CMA) granted its approval in November.
In the first nine months (9M) of 2022, Dallah Healthcare registered net profits after Zakat and tax worth SAR 196.02 million, higher by 30.68% year-on-year (YoY) than SAR 150 million.
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