Saudi Arabian healthcare company Almoosa Health has announced its plans to launch an initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).
The company is set to offer 13,291,074 ordinary shares, equating to a 30% stake in its share capital.
Almoosa Health chairman Abdulaziz Almoosa said: “As we announce our intention to list on the Saudi Exchange, we embark on a new chapter of growth and innovation.
“This important milestone aligns with our long-term vision to enhance healthcare services across the Eastern Province and reflects our deep and long-standing commitment to transparency and operational excellence.”
The Saudi Exchange granted approval for the listing on 22 September this year, while the Capital Market Authority (CMA) sanctioned the IPO on 30 September.
The institutional book-building process is due to begin on 4 December, with the price range for the offering to be announced concurrently.
The retail subscription period will last from 23 to 24 December, with final allocations expected to be announced on 29 December.
The Company for Cooperative Insurance (Tawuniya) and Alfozan Holding Company have both pledged to subscribe as cornerstone investors, securing 4.1% and 2.5% of the post-IPO capital respectively.
Almoosa Health CEO Malik Almoosa said: “The announcement of our intention to list on the Saudi Exchange is a significant milestone for Almoosa Health.
“After nearly 30 years, we continue to serve with passion, lead with innovation and promote community transformation.
“Driven by our commitment to maintaining strong operating leverage and efficiencies that enhance financial performance, we believe that we have reached the right point in our journey to invite new shareholders to participate in our future growth.”
Previously known as Almoosa General Hospital, Almoosa Health operates Al Moosa Specialist Hospital and Al Moosa Rehabilitation Hospital.
The company's portfolio includes 730 inpatient beds and 290 clinics across Saudi Arabia.
"Almoosa Health to offer more than 13 million shares in IPO on Saudi Stock Exchange" was originally created and published by Hospital Management , a GlobalData owned brand.
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