Al Ahsa Development Co. said that following the capital hike approval, the company will issue 1 new share for every 0.809 share of Al Salam Medical Services Co. in a share swap deal to acquire Al Salam.

 

As a result, Al Ahsa’s number of shares will increase from 49 million to 73.73 million, the company said in a bourse statement.

 

Al Ahsa Development Co.’s shareholders will vote on a 34% capital hike to SAR 737.32 million from SAR 490 million to fully acquire Al Salam Medical for under a share swap deal, according to data compiled by Argaam.

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