ACDIMA completes sale of 10.5% stake in SPIMACO

Logo of Arab Company for Drug Industries and Medical Appliances (ACDIMA)

Arab Company for Drug Industries and Medical Appliances (ACDIMA) completed an accelerated bookbuilding process by institutional investors to sell the selling shareholder’s entire stake in Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO), GIB Capital, the financial advisor and institutional bookrunner of ACDIMA, said in a statement to Tadawul.

The final offer price was set at SAR 27.9 per share, with 12.59 million shares sold, representing 10.49% of SPIMACO’s share capital.

The offering was fully subscribed by institutional investors in Saudi Arabia. Following completion of the transaction, ACDIMA no longer owns any shares in SPIMACO.

The company said the sale was executed through negotiated transactions today, Sept. 6, in accordance with the negotiated transactions mechanism stipulated in the Trading and Membership Procedures approved by the Capital Market Authority’s Board.

According to Argaam data, GIB Capital announced on Sept. 3 the launch of an accelerated bookbuilding process to sell its entire stake in SPIMACO.

Today, TASI witnessed 15 private transactions on 12.59 million SPIMACO shares, at a total value of SAR 351.21 million, representing about 10.49% of SPIMACO’s shares.