National Medical Care details use of IPO proceeds

21/04/2015 Argaam
National Medical Care Co., an operator of private hospitals in Saudi Arabia, has outlined new developments involving the use of proceeds
​ from its initial public offering (IPO)​
.
 
An estimated SAR
​ ​
171.5 million has been spent since February 10, 2013, accounting for 98 percent of all net proceeds, the company said in a statement to Tadawul.
 
Around SAR 156 million went towards construction costs, as well as the expansion of 
​its 
new National Hospital.
 
Meanwhile
​, the company invested ​
SAR 15.1 million into building its Family Medicine Center.

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