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Wed 5 Feb 2020 08:16 PM

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Saudi healthcare giant set to launch IPO next week

Dr Sulaiman Al Habib Medical Group plans to start the sale of a 15% stake in initial public offering

Saudi healthcare giant set to launch IPO next week

Dr Sulaiman Al Habib operates 14 medical facilities across Saudi Arabia, the United Arab Emirates and Bahrain,

Dr Sulaiman Al Habib Medical Group, one of Saudi Arabia’s largest private healthcare operators, plans to start the sale of a 15 percent stake in an initial public offering next week.

The book-building process for the IPO will start on February 10 and the shares will be priced on February 20, according a document published in the company’s website. The company will offer 52.5 million shares.

The healthcare operator didn’t disclose the pricing range for the shares.

The hospital operator’s IPO will be the first to come to the local market after Saudi Aramco raised more than $29 billion in December. That sale relied mainly on domestic investors.

Dr Sulaiman Al Habib initially planned to sell shares in 2016, people familiar with the matter said at the time. The company operates at least 14 medical facilities across Saudi Arabia, the United Arab Emirates and Bahrain, according to its website.

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