Almoosa Well being will supply greater than 13 million shares in an preliminary public providing
Saudi healthcare firm Almoosa Well being has introduced plans to launch an preliminary public providing (IPO) on the Saudi Inventory Trade (Tadawul).
The corporate will supply 13,291,074 abnormal shares, representing a 30% curiosity within the share capital.
Abdulaziz Almoosa, Chairman of Almoosa Well being, mentioned: “As we announce our intention to record on the Saudi Trade, we’re embarking on a brand new chapter of development and innovation.
“This necessary milestone aligns with our long-term imaginative and prescient to enhance healthcare providers within the Japanese Province and displays our deep and long-standing dedication to transparency and operational excellence.”
The Saudi Trade permitted the itemizing on September 22 this yr, whereas the Capital Market Authority (CMA) permitted the IPO on September 30.
The institutional bookbuilding course of will start on December 4, with the worth vary for the providing being introduced concurrently.
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The retail subscription interval runs from December 23 to 24, with closing allocations anticipated to be introduced on December 29.
The Firm for Cooperative Insurance coverage (Tawuniya) and the Alfozan Holding Firm have each dedicated to enroll as cornerstone buyers, securing 4.1% and a pair of.5% of the post-IPO capital respectively.
Almoosa Well being CEO Malik Almoosa mentioned: “The announcement of our intention to record on the Saudi Trade is a crucial milestone for Almoosa Well being.
“After practically 30 years, we proceed to serve with ardour, lead innovation and advance neighborhood transformation.
“Pushed by our dedication to sustaining robust operational affect and efficiencies that enhance monetary efficiency, we consider now we have reached the suitable level in our journey to ask new shareholders to take part in our future development. ”
Almoosa Well being, previously referred to as Almoosa Normal Hospital, operates the Al Moosa Specialist Hospital and the Al Moosa Rehabilitation Hospital.
The corporate's portfolio consists of 730 hospital beds and 290 clinics in Saudi Arabia.
