Based on the final offer price of AED2 per share, Burjeel Holding’s market capitalisation at listing was AED10.4 billion, making it the largest healthcare company trading on Abu Dhabi Securities Exchange (ADX).
Total gross demand for the offering amounted to over AED32 billion, implying to an oversubscription level of 29 times in aggregate.
“ADX is proud of the role it continues to play in the UAE’s economic diversification efforts, providing companies a platform to reach global investors in a diverse capital market ecosystem,” said Hisham Khalid Malak, Chairman of ADX.
The group intends to pay cash dividends from 2023, expected pay-out ratio is 40-70 percent of net income, dependent on the required investment for additional growth plans.
“Our IPO demonstrates our commitment to helping grow the UAE’s capital markets ecosystem through expanding the UAE economy and private sector, further cementing Abu Dhabi’s role as an attractive destination for investment,” said Dr. Shamsheer Vayalil Parambath.
Founded in 2007 with the opening of LLH Hospital in Abu Dhabi, Burjeel Holdings now operates an integrated healthcare network of 61 assets, including 16 hospitals and 23 medical centres across primary, secondary, tertiary and quaternary care, with its expansion into Saudi Arabia to happen shortly.
Follow us on
