AlBaha’s Al Marakez finalizes acquisition of Ishraqah Regional Development

16/01/2018 Argaam

Al Marakez Al Raqiyah Limited, a subsidiary of AlBaha Investment & Development Co. (AlBaha), completed on Monday all the regulatory procedures related to finalizing the full acquisition of Ishraqah Regional Development & Real Estate Investment, AlBaha said in a statement on Tadawul.

 

Al Marakez Al Raqia has increased its capital by 15 percent to 5.75 million shares from 5 million shares through issuing 750,000 new shares to fulfill the value of the deal.

 

The selling partners at Al Marakez Al Raqia now own a 13.04 percent stake after the acquisition and new share issuance.

 

In December last year Al Marakez Al Raqia signed a deal to acquire Ishraqah for SAR 28.3 million in cash and SAR 6.5 million through issuing the new shares.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.