Skip to content Skip to Search
Skip navigation

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

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.

Latest articles

Saudi inflation June 2024. Clothing and footwear prices in Saudi Arabia were down 3.2 percent year on year in June, and 0.2 percent month on month

Non-oil discounting brings Saudi inflation down

Saudi Arabia’s year-on-year consumer inflation rate fell to a low of 1.5 percent as non-oil businesses competed over prices but the wholesale price index remained at a high of 3.2 percent, reflecting high prices globally.  The consumer price index was down from 2.7 percent in June 2023. The CPI was also down from the 1.6 […]

Almost 300,000 European visitors contributed to Oman's hotel revenues growing by more than 10 percent

Oman hotel revenues increase more than 10%

Hotel revenues across Oman were up by more than 10 percent in the first five months of 2024, fuelled by an increasing number of Asian and European visitors to the sultanate. Three-to-five star hotels reported revenues of OR108 million ($281 million) at the end of May, the latest data from the National Centre for Statistics […]

Saudi fishing trawlers

Saudi fishing industry bolstered by support plan

Saudi Arabia’s fishing industry has landed a financial support programme from the government as part of plans to develop and safeguard the sector. Fish production in the kingdom increased 80 percent in 2023 year on year to 214,600 metric tonnes. The goal is to increase that by 7 percent to 230,000 tonnes this year. The […]

A takeaway food stall in Saudi Arabia. While local version of Western soft drinks are increasingly popular, PepsiCo Inc's profits in the region are soaring

PepsiCo growth defies Middle East boycott of Western brands

PepsiCo Inc has reported robust growth in the Middle East, defying the boycotts that have battered other Western brands in the region. The food and beverage giant posted double-digit organic revenue growth in Egypt for the second consecutive quarter, even though it has been the subject of a backlash linked to perceived US support for […]