PureHealth Holding, one of the largest healthcare platforms in the Middle East, has confirmed robust interest in its Initial Public Offering (IPO) on the first day of the subscription period.
The final offer price has been set at AED3.26, resulting in an offering of 1.11 billion shares, (representing 10% of the share capital of the company), worth AED3.62 billion ($986 million).
The subscription period will close on December 11 for both retail and professional tranches. The company intends to list its shares on the Abu Dhabi Securities Exchange (ADX) on December 20.
"We have seen an overwhelmingly strong demand for the IPO as it is fully subscribed on the opening day. I am incredibly excited to see the strong interest from investors and overall positive reception," remarked its Founder and Managing Director Farhan Malik.
"The IPO offers investors an attractive value proposition and the chance to be part of PureHealth’s journey, which is in itself a unique opportunity, we are on a strong growth trajectory with our recent international acquisitions and ambitious future plans, backed by the visionary leadership of Abu Dhabi and the UAE. Following this initial response, we look forward to our listing date with ADX, a significant milestone for PureHealth," he added.-TradeArabia News Service