AYYAN issues prospectus for SAR 200M rights offering

Logo of AYYAN Investment Co.

AYYAN Investment Co. published today, June 11, the prospectus for its capital increase through a SAR 200 million rights offering.

The rights issue is aimed at enabling the company to implement its operational plans and supporting its working capital.

For More IPOs

The company will use the rights issue proceeds to purchase medical devices and equipment for Al Salam Hospital, affiliated with Al Salam Medical Services Co. This is besides settling dues to the suppliers of subsidiaries, Al-Ahsa Medical Services Co. and Al Salam Medical Services, alongside paying obligations for financing entities and outstanding operating expenses (opex) owed by the latter.

The company's shareholders will vote on the board recommendation to raise capital through a SAR 200 million rights offering, during an extraordinary general meeting (EGM) to be held on July 8.

The Capital Market Authority (CMA) approved last month the request AYYAN to top-up capital through a rights issue, as per Argaam's data.