Al Nahdi Holding has purchased 4 million shares of Nahdi Medical Co. (4164), the largest retail pharmacy chain in the Kingdom, with a total value of SAR 500 million.
This marks one of the “large share sale” transactions in the main Saudi market, “TASI.”
What
Nahdi Medical received a notification from the Saudi Economic and Development Holding Company “SEDCO Holding” and “Al Nahdi Holding” regarding a share purchase agreement.
This agreement was made with the seller, “Second Development Investment Company,” wholly owned by “SEDCO Holding.”
The acquired shares represent approximately 3.08% of the capital of “Nahdi Medical.”
So what
SEDCO Holding and “Al Nahdi Holding” are major shareholders in “Nahdi Medical.”
Before the deal, the former owned 25%, and the latter held a 35% stake in the company.
It is worth noting that “SEDCO Holding” is known locally for its leadership in sustainable investments.
Some context
The board of directors of “Nahdi Medical” distributed cash dividends to shareholders for the first half of 2024, which amounted to SAR 325 million, or SAR 2.5 per share.
The company’s net profit decreased 5.6% during H1, recording around SAR 481 million in income.
