Al Ahsa issues new shares to be allocated to Al Salam Medical shareholders

Al Ahsa Development Co. announced on Monday the issuance of new shares to be allocated to the shareholders of Al Salam Medical Services, according to the shareholders’ circular published on Tadawul on Nov. 20, 2019.

In February this year, the shareholders of Al Ahsa approved a 50.47% capital hike to SAR 737.32 million from SAR 490 million, whereby the number of shares will be increased from 49 million to 73.73 million.

The company said in a bourse filing that the capital increase is aimed at financing Al Ahsa’s full acquisition of Al Salam Medical Services, through issuing 24.73 million shares at par value to the latter’s shareholders on a pro rata basis.

Meanwhile, the Securities Depository Center (Edaa) deposited today, March 16, the additional shares of Al Ahsa into the accounts of eligible shareholders.