AYYAN Investment shareholders approve capital hike to buy 26.43% stake in Al-Ahsa Medical

10/11/2021 Argaam

Logo of  AYYAN Investment 

AYYAN Investment Co.’s shareholders approved, on Nov. 9, the board's recommendation on increasing capital by 9.4% to SAR 806.4 million from SAR 737.3 million, through issuing 6.9 million ordinary shares to acquire 26.43% stake in Al-Ahsa Medical Services Co.

 

Details of Capital Increase

Current capital

SAR 737.3 mln

Number of shares

73.73 mln

Capital hike (%)

9.4%

Capital after increase

SAR 806.4 mln

Number of shares after increase

80.64 mln

Reason

To acquire the entire shares of the selling shareholders

Method

Issuing 6.9 mln new shares

Record date

Nov. 9, 2021
 

In April, AYYAN Investment inked a share purchase agreement with a number of shareholders to buy non-controlling stakes in Al-Ahsa Medical Services Co. via share swap, according to data compiled by Argaam.

 

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