Hospital operator Burjeel aims to raise up to $368m from IPO By Reuters September 30, 2022 Creative Commons Burjeel Holdings could raise between $299.90 million and $367.38 million based on the price range Abu Dhabi-based Burjeel Holdings set a price range of AED 2 to AED 2.45 ($0.5446 to $0.6671) a share for its initial public offering (IPO) that opened for subscription on Friday, valuing the hospital operator at $3.3 billion at the top end. The selling shareholder expects to sell more than 350 million shares, or seven percent of Burjeel’s issued share capital, in addition to more than 200 million new shares, or four percent of its issued share capital, Burjeel said in a statement. Burjeel Holdings could raise between $299.90 million and $367.38 million based on the price range. The subscription period for the IPO will continue until October 4 for a first tranche being offered to retail investors and a second tranche targeting professional investors. The final share price is expected to be announced on October 5 and the shares are expected to begin trading on the Abu Dhabi Securities Exchange on October 10. JPMorgan Securities is capital markets adviser to Burjeel and selling shareholder for the IPO.