Saudi Pharmaceutical Industries and Medical Appliances Corporation ( SPIMACO) (2070.SE) raised its stake in Al Qassim Medical Services Company to 44.04% (from 16.71%), as it finalised the regulatory procedure for acquiring c5.4 million shares for cSAR136.7 million. SPIMACO has financed the transaction through a combination of internal resources and borrowing. SPIMACO will announce any further stake increase in Al Qassim; as earlier in January 2016, SPIMACO’s Board of Directors (BoD) had agreed to submit a SAR200 million binding offer to Al Qassim to increase its stake to a maximum of c57%. Al Qassim Medical Services owns Al Qassim Hospital that has been operating since 2010 and has SAR200 million of issued capital ( Company Disclosure)   SPIMACO: SAR32.00 as of 11 April 2016, Rating: Buy, FV: SAR45.00 per share, MCap: USD1,024 million, SPIMACO AB / 2070.SE