Logo of Dallah Healthcare Co.
Dallah Healthcare Co. issued the shareholders’ circular related to increasing capital to acquire Kun Investment Holding Co.'s stake in the International Medical Center Co. (IMC), the company said in a statement to Tadawul.
The company signed, on June 20, a share-swap agreement with Kun Investment to acquire its entire stake of 18.98%, or 14.23 million shares, in IMC. The acquisition will be in exchange for issuing new shares in Dallah Healthcare to Kun Investment, according to Argaam.
The company said that IMC's overall valuation amounted to SAR 3.75 billion, while the value of target shares reached SAR 711.63 million.
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Acquisition Details |
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Current Capital |
SAR 900 mln |
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Number of Shares |
90 mln |
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Percentage Increase |
8.53% |
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Capital Increase |
SAR 7.68 mln |
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New Capital |
SAR 976.81 mln |
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Number of Shares |
97.68 mln |
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Share-Swap Ratio |
0.5397 new shares in Dallah for each share owned by Kun Investment in IMC to acquire 14.23 mln shares. |
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Price of New Shares |
At a par value of SAR 10 each. The new shares issue price will be determined and will be reflected on Dallah’s financial statements at the time of record date, based on its share closing price at the last trading day prior to the date of completing the acquisition. |
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Dallah's Stake in IMC after Share Issuance |
27.18% |
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Shareholders’ Ownership in Dallah after Acquisition |
7.86% |
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