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Tue 1 Oct 2019 10:55 AM

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Saudi CMA approves Dr Sulaiman Al Habib Medical Group IPO

Dr Sulaiman Al Habib Medical Group plans to offer 52.5 million shares, representing 15 percent of its share capital

Saudi CMA approves Dr Sulaiman Al Habib Medical Group IPO
Dr Sulaiman Al Habib Medical Group is one of the Middle East’s biggest hospital operators, with hospitals and clinics in Saudi Arabia, the UAE and Bahrain.

Saudi Arabia’s Capital Market Authority (CMA) has approved an initial public offering (IPO) of Dr Sulaiman Al Habib Medical Group.

In a statement the CMA said the company plans to offer 52.5 million shares, representing 15 percent of its share capital.

Dr Sulaiman Al Habib Medical Group is one of the Middle East’s biggest hospital operators, with hospitals and clinics in Saudi Arabia, the UAE and Bahrain.

According to a report from news agency Reuters, the CMA has relaxed the traditional IPO requirements to list at least 30 percent of a company in a bid to encourage more family-owned companies to list.

Reports earlier in the summer suggested Dr Sulaiman Al Habib Medical Group had been in talks with foreign and local banks for listing and potential advisory roles.

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