Al Ahsa sets issue price for capital hike

15/05/2019 Argaam

 

Al Ahsa Development Co. (ADC) on May 14 signed a supplementary agreement to buy out Al Salam Medical Services Co., which set the issue price for ADC’s capital hike at SAR 10.108333 each, the company said in a bourse filing on Wednesday.

 

The price was based on the average closing price of ADC for the 90 days preceding the binding agreement, which was signed on March 20, 2019.

 

ADC signed an agreement to acquire a 100 percent stake in Al Salam Medical Services Co. for a total value of SAR 250 million under a share swap deal, Argaam reported.

 

Al Ahsa will hike its capital by 51 percent to SAR 740 million from SAR 490 million.

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