Pan-Arab shareholding firm ACDIMA divests nearly 100% stake in SPIMACO for SAR 326m

GIB Capital, acting in its capacity as the financial advisor to the Arab Company for Drug Industries and Medical Appliances, commonly known as ACDIMA, has announced the successful completion of a significant share sale in the Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO).

The transaction involved the divestment of a 9.998% equity in SPIMACO, representing a total of 11.99 million shares, according to a bourse filing.

Meanwhile, the total value of the transaction reached SAR 326.34 million.

The shares were acquired by two investment vehicles managed by Alistithmar Capital, specifically Alistithmar Capital Fund for Investment 44 and Alistithmar Capital Fund for Investment 49.

According to the disclosure, the sale was facilitated through a series of private transactions executed as negotiated trades on the Saudi Exchange (Tadawul).

These trades were conducted in strict accordance with the established Trading and Membership Procedures of the exchange.

The execution of the deal took place on 21 July 2026, marking a notable shift in the shareholding structure of one of the Kingdom’s most prominent pharmaceutical entities.

It is worth noting that ACDIMA is a pan-Arab shareholding company established by a resolution from the Arab Economic Unity Council.

Prior to this transaction, ACDIMA held a more substantial position in SPIMACO.

Following the formal completion of the sale to the Alistithmar Capital funds, ACDIMA’s remaining ownership in the pharmaceutical corporation has been reduced to approximately 10.5% of the total share capital.

Despite the sale of nearly 10% of the company, ACDIMA remains a significant shareholder in SPIMACO, maintaining a double-digit percentage stake that ensures its continued presence in the company’s investor profile.

The use of negotiated trades on the Saudi Exchange is a standard mechanism for high-volume transactions of this nature, allowing institutional investors to transfer large blocks of shares at a predetermined price without causing the immediate market volatility often associated with open-market orders.

By utilizing GIB Capital as a financial advisor, ACDIMA ensured that the divestment was handled through formal institutional channels, targeting specific investment funds managed by Alistithmar Capital.

This transaction reflects a strategic reallocation of assets for ACDIMA within the regional healthcare and medical manufacturing landscape.

SPIMACO, as a leading player in the Saudi pharmaceutical sector, continues to attract institutional interest, as evidenced by the entry of Alistithmar Capital’s specialized investment funds into its primary shareholder base.

The acquisition by Alistithmar Capital Fund 44 and Fund 49 suggests a targeted institutional appetite for exposure to the Kingdom’s pharmaceutical manufacturing capabilities.

The completion of this deal underscores the ongoing liquidity and institutional activity within the Saudi capital markets. For SPIMACO, the diversification of its shareholder base to include specific investment funds under the Alistithmar Capital umbrella introduces new institutional oversight into its capital structure.

Meanwhile, the transaction provides ACDIMA with significant liquidity while allowing it to retain a core 10.5% interest in the future performance of the corporation.

All parties involved have complied with the regulatory frameworks governing such substantial equity transfers on the Tadawul.