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

Hajj pilgrims arrive at King Abdulaziz International Airport in Jeddah

Saudia allocates 1.2m seats for Hajj pilgrims  

Saudia, the national flag carrier of Saudi Arabia, has allocated more than 1.2 million seats for the 2024 Hajj Season across its fleet of over 150 aircraft. The operational period for the carrier during this year’s Hajj will span 74 days, starting from May 9, encompassing both inbound and outbound stages. Saudia Group, one of […]

Dewa's Q1 2024 revenue reached AED5.8 billion, up 7% annually

Dewa profit falls despite surge in demand

The state-owned utility provider Dubai Electricity and Water Authority (Dewa) reported a 13 percent year on year decline in net profit to AED651 million ($177.2 million). The lower earnings were mostly due to higher administrative expenses, finance costs and a drop in other income. Revenue for the period reached nearly AED6 billion, an annual rise of 7 […]

Total revenue at Etihad increased 21 percent year on year to nearly AED6 billion

Etihad Q1 profit jumps nine-fold on 41% traffic growth

Etihad Airways’ net profit surged 792 percent to AED526 million ($143 million) in the first quarter, from AED59 million a year ago, amid strong growth in passenger revenue and reduced net finance costs. Total revenue at the UAE flag carrier increased 21 percent year on year to nearly AED6 billion, driven by increased network capacity and passenger numbers. […]

Saudi US China Amit Medha

Saudi Arabia willing to drop China for US tech alliance

Saudi Arabia will sever technology ties with China if the United States compels it to, the chief executive officer of Alat, an investment company backed by $100 billion in capital from the Public Investment Fund, has revealed. According to Bloomberg US officials have told their Saudi Arabian counterparts that they will have to decide between […]