Riyadh – Mubasher: The Saudi Capital Markets Authority (CMA) has approved Dallah Healthcare Company’s (DHC) request to raise its capital to SAR 750 million via bonus shares issue.
This hike will be implemented through issuing one bonus share for every 3.69 existing shares, according to CMA’s statement which was released on Sunday.
The number of shares will increase to 75 million, from 59 million, while the capital rise will be carried out through liquidating SAR 160 million of the statutory reserve.
DHC previously reported that capital hike aims to support its position to cope with its total assets’ value.
In October 2018, DHC last reported a 26% year-on-year profit drop during the third quarter of 2018, registering SAR 101.4 million, compared to SAR 136.8 million in Q3-17.
During the first nine months of 2018, DHC’s profits tumbled 21% to SAR 325.5 million, compared to SAR 410.9 million from January to September 2017.
DHC’s stock inched up 0.16% to finish Sunday’s trading activities at SAR 60.80.
