Logo ofProfessional Medical Expertise Co. (ProMedEx)
Professional Medical Expertise Co.’s (ProMedEx) board of directors recommended today, Oct. 1, increasing the company’s capital by SAR 70 million through a rights issue to finance growth plans aimed at diversifying its product portfolio. 
According to a statement to Tadawul, the company appointed Alistithmar Capital as financial advisor on the proposed capital top-up.
ProMedEx explained that proceeds from the rights issue will support its strategic plans, including expanding agency agreements, investing in the manufacturing of new products, and enhancing future operations.
Shareholders of record on the day of the deciding extraordinary general meeting (EGM), as well as those registered with the Securities Depository Center Co. (Edaa) at the close of trading on the second day following the EGM, will be entitled to participate in the planned transaction.
The board recommendation remains subject to approval from the relevant regulatory bodies and shareholders. ProMedEx will announce the date of filing the capital increase application with the Capital Market Authority (CMA), along with any material developments, in due course.
Logo ofProfessional Medical Expertise Co. (ProMedEx)
Professional Medical Expertise Co.’s (ProMedEx) board of directors recommended today, Oct. 1, increasing the company’s capital by SAR 70 million through a rights issue to finance growth plans aimed at diversifying its product portfolio.
According to a statement to Tadawul, the company appointed Alistithmar Capital as financial advisor on the proposed capital top-up.
ProMedEx explained that proceeds from the rights issue will support its strategic plans, including expanding agency agreements, investing in the manufacturing of new products, and enhancing future operations.
Shareholders of record on the day of the deciding extraordinary general meeting (EGM), as well as those registered with the Securities Depository Center Co. (Edaa) at the close of trading on the second day following the EGM, will be entitled to participate in the planned transaction.
The board recommendation remains subject to approval from the relevant regulatory bodies and shareholders. ProMedEx will announce the date of filing the capital increase application with the Capital Market Authority (CMA), along with any material developments, in due course.
