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Thu 11 Feb 2016 07:28 PM

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Saudi's Middle East Healthcare Co reschedules float for March - CMA

Regulator agrees new IPO date; healthcare firm to list 30 percent of its shares

Saudi's Middle East Healthcare Co reschedules float for March - CMA

Saudi Arabia's Middle East Healthcare Company, which postponed its public share sale last month, has rescheduled its offering to run from March 3-9, the market regulator said on Thursday.

The Capital Market Authority on Jan. 18 said the company requested postponing its initial public offering and added that the company had to determine a new date for its offering within six weeks and finalise its flotation by March 31 or its regulatory approval would be considered cancelled.

Middle East Healthcare Co was to offer 30 percent of itself in its initial share sale, first to initial investors and then the public. The latter phase was supposed to run Feb. 3-9, according to a Dec. 30 bourse statement.

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