Dr. Sulaiman Al Habib Medical operates at least 14 medical facilities across Saudi Arabia, the UAE and Bahrain/Bloomberg
by Kudakwashe MuzoriwaSaudi Arabia’s Dr. Sulaiman Al Habib Medical Group, one of the largest private health-care operators in the Kingdom, plans to start the sale of a 15 per cent stake in an initial public offering (IPO) next week.
Dr. Sulaiman Al Habib Medical Group stated that the book-building process for the IPO is expected to start on 10 February 2020 and the shares will be priced on 20 February.
The company appointed Jadwa Investment and Riyad Capital as financial advisers, together with EFG-Hermes they will act as bookrunners.
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 2019, a listing which relied mainly on domestic investors.
Dr. Sulaiman Al Habib Medical, which operates at least 14 medical facilities across Saudi Arabia, the UAE and Bahrain, initially planned to sell shares in 2016.
In September 2019, the hospital operator received approval from Saudi Arabia’s Capital Market Authority to sell 52,5 million shares representing around 15 per cent of its share capital.
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