Dallah Healthcare issues circular on capital increase to acquire shares in IMC

Logo of Dallah Healthcare Co.

Dallah Healthcare Co. issued the shareholders’ circular related to increasing capital to acquire Kun Investment Holding Co.'s stake in the International Medical Center Co. (IMC), the company said in a statement to Tadawul.

The company signed, on June 20, a share-swap agreement with Kun Investment to acquire its entire stake of 18.98%, or 14.23 million shares, in IMC. The acquisition will be in exchange for issuing new shares in Dallah Healthcare to Kun Investment, according to Argaam.

The company said that IMC's overall valuation amounted to SAR 3.75 billion, while the value of target shares reached SAR 711.63 million.

Acquisition Details
Current Capital	SAR 900 mln
Number of Shares	90 mln
Percentage Increase	8.53%
Capital Increase	SAR 7.68 mln
New Capital	SAR 976.81 mln
Number of Shares	97.68 mln
Share-Swap Ratio	0.5397 new shares in Dallah for each share owned by Kun Investment in IMC to acquire 14.23 mln shares.
Price of New Shares	At a par value of SAR 10 each. The new shares issue price will be determined and will be reflected on Dallah’s financial statements at the time of record date, based on its share closing price at the last trading day prior to the date of completing the acquisition.
Dallah's Stake in IMC after Share Issuance	27.18%
Shareholders’ Ownership in Dallah after Acquisition	7.86%

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