Saudi Pharmaceutical Industries and Medical Appliances Corporation (Spimaco) (2070.SE) Board of Directors (BoD) agreed to submit a SAR200 million binding offer to Al Qassim Medical Services Company to increase its stake to a maximum of c57% from the current c17%, after the company received approval from Al Qassim’s shareholders that are willing to sell their stakes. The stake increase will depend on SPIMACO’s offer price and the number of Al Qassim shareholders willing to sell based on that price. Al Qassim owns Al Qassim Hospital that has been operating since 2010 and has SAR200 million of issued capital. SPIMACO will finance the transaction through a combination of borrowing and internal resources. (Tadawul)   SPIMACO: SAR22.99 as of 20 January 2016, Rating: Buy, FV: SAR45.00 per share, MCap: USD736 million, SPIMACO AB / 2070.SE