Dallah Healthcare invests SR513m in factory, hospital

Dallah Healthcare invests SR513m in factory, hospital
Updated 05 August 2013

Dallah Healthcare invests SR513m in factory, hospital

Dallah Healthcare invests SR513m in factory, hospital

Dallah Healthcare Holding has announced the development of use of its IPC proceeds.
The IPO (initial public offering) period was from Nov. 19 to Nov. 25 last year.
The gross proceeds amounted to SR539.6 million and net of SR513.1 million after deducting the IPO costs of SR26.5 million, according to Tadawul website
The total proceeds used as of June 30 include payment of SR36 million representing the acquisition price of pharmaceuticals, herbal and cosmetics factory with a total price of SR38 million.
This follows under the category of investment in health care projects and companies, according to the prospectus.
The total acquisition value of this factory represents 24.8 percent of the designated proceeds under this category or 7.4 percent of the net IPO proceeds.
The category of investment in health care projects and companies represents 29.9 percent of the net IPO proceeds.
It spent SR59.9 million against buying of land in west Riyadh area. It paid SR1.7 million as the first down payment for design works.
This follows under the category of using the proceeds of constructing a hospital in west Riyadh area as described in the prospectus.
The total cost of this hospital should represent 70.1 percent of the net IPO proceeds.
The actual payment on this project represents 11.9 percent of the net IPO proceeds