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GIB Capital announced the launch of an accelerated bookbuild offering to sell ACDIMA's entire 10.49% stake in Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO). The transaction involves 12.59 million shares offered to institutional investors in Saudi Arabia. The final offer price and results will be determined through the bookbuilding process, with the deal set to be executed through negotiated transactions on Tadawul.
The sale represents a total market value of approximately SAR 387.7 million based on SPIMACO's closing price of SAR 30.80 on September 3. SPIMACO will not receive any financial proceeds from the transaction, and the existing shares of other stockholders will not experience dilution. A 60-day contractual lock-up period will apply to any remaining shares held by ACDIMA following the completion of the offering.
Tadawul will facilitate a dedicated pre-market session for negotiated deals prior to the opening auction to complete the block trade. This strategic divestment reflects portfolio adjustments by institutional holders in the Saudi healthcare sector, and market participants will monitor how the absorbed liquidity impacts secondary market stability for SPIMACO moving forward.
