Riyadh – Mubasher: Al Ahsa Development Company (ADC) announced that its extraordinary general assembly meeting (EGM) has approved raising the company’s capital from SAR 490 million to SAR 737.32 million.
The capital hike will be carried out by issuing about 24.7 million ordinary shares to acquire all the shares of Al Salam Medical Services Company, according to the company’s statement to the Saudi Stock Exchange (Tadawul).
In November, Al-Ahsa extended a Memorandum of Understanding (MoU) to fully acquire Al Salam Medical Services Company until the end of February 2020 in order to finalize the required documents.
