Skip to content Skip to Search
Skip navigation

Shares in Abu Dhabi’s Pure Health surge on bourse debut

Pure Health has subsidiaries that run clinics and hospitals, and provide health insurance Pexels/Pixabay
Pure Health has subsidiaries that run clinics and hospitals, and provide health insurance
  • Sold 10% of stock
  • Shares gained 70%
  • Part-owned by ADQ

Shares in Abu Dhabi’s Pure Health gained more than 70 percent on its debut on the UAE capital’s bourse on Wednesday.

The healthcare provider, part-owned by Abu Dhabi sovereign fund ADQ, sold 10 percent of its stock at AED 3.26 ($0.89) per share in an initial public offering that raised AED 3.62 billion ($986 million) earlier this month.

Pure Health’s shares were up 72 percent at AED 5.62 as of 0803 GMT. It was also the most traded stock on Abu Dhabi’s bourse, with nearly 30 million shares changing hands.

The conglomerate made a third-quarter net loss of AED 76.1 million ($20.7 million) as costs and taxes outstripped revenue. That compares with a profit of AED 518.2 million in the prior-year period.

Its subsidiaries include Abu Dhabi Health Services Company, which operates a network of hospitals and clinics in the UAE, and health insurer Daman.

Abu Dhabi’s index rose 0.1 percent to 9,499 points as of 0814 GMT. It is down 6.9 percent in 2023.

Latest articles

A tourist with an arabian foal at Alhazm stud, Khubash, Saudi Arabia. 106m tourists visited the kingdom last year

Saudi Arabia hits tourism target seven years early

More than 106 million tourists visited Saudi Arabia last year, surpassing the kingdom’s 2030 target and prompting it to set a new goal of welcoming 150 million annual visitors by the end of the decade, according to the Ministry of Tourism. Achieving the milestone target of the Vision 2030 economic roadmap seven years early cements […]

Asked about reports the IMF loan could rise to $12bn, managing director Kristalina Georgieva said: 'There is nothing wrong in thinking big'

IMF expects bigger loan deal for Egypt within weeks

The International Monetary Fund expects a financing package for Egypt to be finalised within weeks, its chief said on Tuesday – while also entertaining speculation that the loan could rise to $12 billion. Speaking on the sidelines of a G20 finance meeting in Brazil, IMF managing director Kristalina Georgieva told Reuters that issues delaying the […]

Ericcson and Turkcell signed the 6G agreement at Mobile World Congress in Barcelona

Ericsson and Turkcell to lead 6G research in Turkey

Swedish telecom company Ericsson and Turkish operator Turkcell will begin advancements on research and development of 6G in Turkey. The sixth-generation wireless network will use higher frequencies than its predecessor 5G and provide substantially higher capacity and much lower latency. The advent of 6G networks holds promise of faster connectivity in various sectors including wireless […]

Olam Group said the regulatory framework for listing on the Saudi stock exchange is still being worked out

Olam delays Saudi listing of agriculture unit

Olam Group, which has its headquarters in Singapore, has ruled out listing its agricultural unit on the Saudi stock exchange in the first half of 2024. CEO Sunny Verghese said in August that the company was targeting the dual listing in Singapore and Saudi Arabia in the first half of 2024, which could raise up to […]