CMA approves Dallah Healthcare’s capital hike to SAR 900 mln through rights issue

The Capital Market Authority (CMA) approved Dallah Healthcare Co.’s request to increase its capital from SAR 750 million to SAR 900 million, through issuance of 1 bonus share for every 5 outstanding shares, the market regulator said in a statement on Sunday.

Shareholders of record at the Security Depository Center (Edaa) as of the closing of the second trading day after the due date, which will be determined later by the company’s board, are eligible for this increase.

The capital increase will be financed by transferring SAR 150 million from the statutory reserve to the company’s capital.

Accordingly, the company’s outstanding shares will be increased from 75 million to 90 million shares by 15 million.

The extraordinary general assembly shall be held within 6 months from the CMA’s approval date, the statement added.

According to data compiled by Argaam, Dallah shareholders approved in February last year a 20% capital hike to SAR 900 million through issuance of bonus shares to align with the size of its assets and support investments and future expansions.