Dallah Healthcare shareholders to vote on capital increase to buy Kun Investment's stake in IMC on Dec. 27

Logo of Dallah Healthcare Co.

Dallah Healthcare Co.’s (DHC) shareholders will vote on increasing capital to acquire Kun Investment Holding Co.'s stake in the International Medical Center Co. (IMC), during an extraordinary general meeting (EGM) scheduled for Dec. 27.  

Dallah Healthcare will issue 7.68 million new shares in favor of Kun Investment, according to a statement to Tadawul. 

Other agenda items include amending Article No. 7 of DHC’s bylaws related to its capital and giving the greenlight for the board of directors or any person authorized by the board to make decisions or take actions deemed necessary to implement any of the aforementioned decisions related to this acquisition.

This is besides agreeing on the effective date for materializing the capital top-up following the completion of the ownership transfer of IMC’s shares from Kun Investment to DHC.

DHC 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 DHC to Kun Investment, according to Argaam.

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