Riyadh-Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (Spimaco) completed the statutory procedures to increase its stake in Al Qassim Medical Services, according to a statement.
Spimaco will raise its stake in Al Qassim from 16.71% to 44.04% through purchasing 5.47 million shares for SAR 136.67 million ($36.44 million).
The transaction will be financed through debt and equity.
Spimaco will later announce when it receives further offers to purchase more stake in Al Qassim.
