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

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.

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