The Clap
Dallah Health (4004) shareholders approved the BoD’s recommendation for a capital increase from SAR 900mn to around SAR 976.8mn.
What
The increase will be through the issuance of about 7.68mn new ordinary shares, worth a total of around SAR 76.8mn, in favor of Kun Investments Holding in return for about 14.23mn shares of “International Medical Center“.
So What
Dallah Health aims to increase its capital to acquire 18.98% of the International Medical Center.
Now What
Dallah signed a non-binding MoU with Kun Investments to buy and sell 18.98% of shares in the International Medical Center through a share swap.