Riyadh – Mubasher: Al Baha Investment and Development said it signed an agreement to acquire Al Marakiz Al Raqiyah Ltd through issuing new shares for Al Marakiz shareholders.
The value of Al Marakiz amounts to SAR145 million.
Al Baha will finance the acquisition deal through raising its capital from SAR 150 million to SAR 295 million, up by 96.67%. The company’s issued shares will increase from 15 million shares to 29.5 million shares up by 14.5 million shares.
Al Baha noted that its capital hike in order to finance the acquisition deal is pending securing the regulators approval.
