Dallah Healthcare gets CMA approval on capital increase to acquire 19% of IMC

Dallah Healthcare Co. (DHC) obtained the approval of the Capital Market Authority (CMA) to increase its capital from SAR 900 million to SAR 976.81 million through issuing 7.68 million ordinary shares.

The move aims to acquire 18.98% of International Medical Center Co. (IMC), the healthcare services provider said in a statement to Tadawul.

A shareholder’s circular will be published within sufficient time before the extraordinary general meeting (EGM). It will include all relevant information that shareholders need to know before making an informed decision when voting on the capital hike.

DHC signed, on June 20, a share-swap agreement with Kun Investment Holding Co. 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 DHC to Kun Investment, according to Argaam’s data.