Markets Almoosa Health’s Saudi IPO order book hits $46bn By Pramod Kumar December 17, 2024, 11:42 AM Unsplash/Hush Naiboo Jade Photography Almoosa Health Company has set the final offering price at SAR 127 per share The institutional book-building process for Almoosa Health Company’s upcoming initial public offering (IPO) has reached SAR173 billion ($46 billion) and was oversubscribed 103 times. The company set the final offering price at SAR127 per share, raising SAR1.69 billion on the Saudi stock market listing. The expected market capitalisation will be SAR5.63 billion, making it the kingdom’s second-largest IPO this year. The price range was previously set between SAR123 and SAR127 per share. The retail subscription will run for two days starting December 23. The final allocations are set for December 29. The hospital operator will divest 13.3 million shares, with The Company for Cooperative Insurance (Tawuniya) and Alfozan Holding Company committed to subscribe as cornerstone investors. Institutions snap up share of Fakeeh Care Group IPO in minutes AI in healthcare is not a cure-all solution Fourth Milling to offload 30% in IPO on Saudi bourse The net offering proceeds will be allocated as 30 percent to the selling shareholder and 70 percent to the company. Almoosa Health operates two facilities in Al Ahsa in the Eastern Province, with a total of 730 beds and 290 clinics. The final listing date on the main market (Tasi) depends on the completion of listing formalities.
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