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Al-Hokail Academy to sell over 2m shares on Saudi bourse

By Pramod Kumar
Reuters/Ahmed Yosri
Saudi woman walks at the Saudi stock market Tadawul in Riyadh. The book-building period for Al-Hokail Academy IPO will conclude on July 10

Al-Hokail Academy Specialized Digital Polyclinics Company, a digital healthcare services provider in Saudi Arabia, will launch its initial public offering (IPO) to sell 29 percent of its capital, or over 2 million shares, on the Nomu-Parallel Market.

The company has set the IPO price range between SAR118 and SAR125 ($31.46- 33.32) per share, Emirates NBD Capital Saudi Arabia, the financial advisor, lead manager, and bookrunner for the IPO, said in a filing to the Saudi bourse on Sunday.

The book-building period for the institutional tranche started on Sunday and will conclude on July 10. Subscriptions for qualified individuals will run from July 17 to 21.

Al-Hokail Academy reported a total revenue of SAR248 million in 2023, and net profit stood at SAR34 million.

The company operates seven branches in the Eastern Province of the kingdom.

As part of its expansion plan, the healthcare provider intends to launch new branches outside the Eastern Province and set up a specialised hospital in Dammam for complex surgeries and procedures.

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