AME major shareholder plans to transfer part of its stake to partners

Logo of AME Company for Medical Supplies

AME Company for Medical Supplies received today, July 27, a letter from Izdihar Al Awwal Medical Co., stating the latter’s plan to deposit part of its stake in AME reaching nearly 1.3%, or 90,704 shares, into the investment portfolios of its shareholders.

Accordingly, AME's major shareholders list will change, the company said in a statement to Tadawul.

Izdihar Al Awwal is owned by the custodian appointed by fund manager Alkhabeer Medical Private Equity 1.

Any material developments in this regard will be announced later.

On April 11, AME received a letter from Izdihar Al Awwal, stating that the latter's plans to transfer part of its 714,290 shares in AME, or 10.2% of AME’s total share capital, to Izdihar Al Awwal current partners’ investment portfolios, according to data available with Argaam.

Izdihar Al Awwal is AME’s major shareholder, with an 11.23% stake. It earlier owned 21.43% of AME’s capital.