Al Ahsa gets CMA nod for capital hike to SAR 737.3 mln

13/11/2019 Argaam

 

Saudi Arabia's Capital Market Authority (CMA) has approved Al Ahsa Development Co.'s request for capital hike to SAR 737.32 million from SAR 490 million, through issuance of 24.7 million ordinary shares to fully acquire Al Salam Medical Services Co.

 

A circular will be published on the capital increase ahead of Al Ahsa's upcoming extraordinary general assembly meeting, the market regulator said in a statement on Wednesday.

 

In March 2019, Al Ahsa signed an agreement to acquire a 100 percent stake in Al Salam for a total value of SAR 250 million under a share swap deal, Argaam reported.

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