SPIMACO approves Dammam Pharma's 50% capital hike

27/12/2018 Argaam

 

Saudi Pharmaceutical Industries & Medical Appliances Co.’s (SPIMACO) board approved the proposed 50 percent capital increase of its subsidiary, Dammam Pharma to SAR 180 million from SAR 120 million.

 

SPIMACO will inject SAR 39 million from its own resources in the planned hike, the company said in a statement to Tadawul on Thursday.

 

The capital increase will be used to finance the Dammam-based plant's working capital requirements, in line with the board's strategy.

 

The decision is subject to regulatory approvals, SPIMACO said, adding that the related financial impact will be disclosed later on.

 

Dammam Pharma is 65 percent owned by SPIMACO and 20 percent owned by Arac Healthcare, SPIMACO’s wholly-owned marketing and distribution arm.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read