Al Hammadi announces 88% completion of Al Nozha hospital
Al Hammadi Company for Development and Investment [4007.SE] announced that it utilised SAR532mn or 88% of the net IPO proceeds of SAR605mn. Spending included SAR158mn payment for the early retirement of a loan facility related to Al Nozha Hospital, that is currently under development. Work on Al Hammadi’s new hospital addition, Al Nozha, has reached 88% completion as of 30 September 2016, which includes the new planned capacity of 600 beds, after shareholders had approved increasing the planned capacity by 172 beds, with an estimated additional cost of SAR20mn. The company expects to commence trial operations at Al Nozha hospital in 2H16. (Tadawul).
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.