National Medical Care Co., an operator of private hospitals in Saudi Arabia, has outlined new developments involving the use of proceeds
from its initial public offering (IPO)
.
An estimated SAR
171.5 million has been spent since February 10, 2013, accounting for 98 percent of all net proceeds, the company said in a statement to Tadawul.
Around SAR 156 million went towards construction costs, as well as the expansion of
its
new National Hospital.
Meanwhile
, the company invested
SAR 15.1 million into building its Family Medicine Center.
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