Skip to content Skip to Search
Skip navigation

High demand puts Pure Health IPO order book at $72bn  

By Pramod Kumar
Pure Health is offering 1.11 billion ordinary shares through the IPO, or 10 percent of its total issued share capital Pure Health
Pure Health is offering 1.11 billion ordinary shares through the IPO, or 10 percent of its total issued share capital

Pure Health, the largest healthcare group in the Middle East, set the final price for its initial public offering (IPO) at AED3.26 ($0.89), raising AED3.62 billion following strong demand from investors.

The company is offering 1.11 billion ordinary shares, or 10 percent of its total issued share capital, on the Abu Dhabi Securities Exchange (ADX).

The total gross demand reached more than AED265 billion ($72.16 billion) in all tranches, the company said in a statement.

The professional subscriber’s tranche received orders worth AED186 billion, with an oversubscription of 54 times. Similarly, the retail offering accumulated demand over AED78 billion, reaching an oversubscription of 483 times.

The company’s market capitalisation is expected to reach AED36.2 billion on listing.

The listing and trading of Pure Health’s shares on the Abu Dhabi Securities Exchange (ADX) is expected on December 20, subject to regulatory approvals. 

The shares will trade under the symbol “PureHealth” and ISIN “AEE01362P238”.  

The founders will retain a 90 percent stake in the company. 

The healthcare company, a subsidiary of Alpha Dhabi Holding, runs 28 hospitals and more than 100 clinics in the UAE.

Latest articles

Funds in green sukuk are placed in traceable, environmentally friendly investments such as renewable energy projects

Demand is high for Alrajhi bank’s first green sukuk

Saudi Arabia’s Alrajhi Bank has completed its $1 billion sukuk – having raised $3.5 billion in subscriptions from local and international investors – as the kingdom’s lenders push to raise funds for the government’s expensive giga-projects.  Sukuk are sharia-compliant bonds that were developed as an alternative to conventional bonds, which are not considered permissible by […]

Mubadala Energy employed the drillship West Capella for its latest gas discovery off Indonesia

Mubadala Energy makes second gas discovery off Indonesia

Mubadala Energy, a wholly owned subsidiary of Abu Dhabi wealth fund Mubadala, has made a significant deep-sea gas discovery in Indonesia’s South Andaman Block. The Tangkulo-1 exploration well was drilled about 65 kilometres off North Sumatra and has an estimated capacity of 80 million-100 million cubic feet per day and over 2,000 barrels of condensate. […]

Emirates chief executive Sheikh Ahmed bin Saeed al Maktoum said he was 'confident in our resilience and ability to respond quickly' to challenges such as the recent flooding in Dubai

Dubai to receive $1bn dividend after record Emirates profits

Emirates Group will pay more than $1 billion in dividends to its owner, the Investment Corporation of Dubai sovereign wealth fund, after it announced record profits of just over $5 billion for the year. The holding group includes Dubai-based flag carrier Emirates and aircraft and airport services company Dnata. It repaid $596 million from the […]

Amit Arora the new CEO of Arada, says 'we are seeing a diverse group of investors and residents that want to buy in our communities'

Overseas buyers dominate in Sharjah’s reformed real estate

Overseas buyers in Arada’s two mega-developments in Sharjah have vastly outnumbered locals in the year-and-a-half since the emirate expanded full real estate ownership rights to non-GCC nationals. From when Aljada, Sharjah’s biggest mixed-use project, launched in 2017 until the land reform of late October 2022, Emirati nationals bought more than 63 percent of the value […]