Saudi German Health’s board recommends capital increase via SAR 240 mln rights issue

06/11/2022 Argaam

Saudi German Health’s board recommends capital increase via SAR 240 mln rights issue

Logo of Saudi German Health 

Middle East Healthcare Co.’s (Saudi German Health) board of directors recommended, on Nov. 3, to increase capital via a SAR 240 million rights issue, according to a statement to Tadawul.

 

The capital hike is aimed to help implement the company’s strategic and operating plans and support future activities.

 

The capital top-up is pending the approvals of the competent authorities as well as the company’s extraordinary general meeting (EGM). 

 

Shareholders of record on the EGM date, and those registered with Edaa on the second trading day following the EGM, are eligible for this increase. 

 

The company will later announce updates as regards the appointment of a financial advisor as well as filing for the Capital Market Authority’s (CMA) approval.

 

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