Pure Health eyes $986m in debut Abu Dhabi IPO
ABU DHABI, December 2, 2023
Pure Health Holding, a leading healthcare platform in the Middle East, has announced that it is offering 1.111 billion shares of the company for its IPO at the Abu Dhabi bourse ADX, thus representing 10% of the total share capital of the company.
This will amount to AED3.62 billion ($986 million) with an offering price of AED3.26 per share, said the company in a statement.
Pure Health said its planned offering and listing will provide investors with a unique opportunity to invest in one of the region’s leading healthcare businesses.
The subscription period will open on December 6 and will close on December 11 for both the tranches. The company intends to list its shares on ADX on December 20, it started.
On the new stake offer, Managing Director Farhan Malik said: "I am thrilled to witness the strong investors interest since announcing our intention to list on ADX. Being the leading healthcare provider in the region, PureHealth aligns seamlessly with Abu Dhabi's Economic Vision for 2030. Our vision is dedicated to transforming the existing healthcare system in the UAE, shifting from a reactive, episodic model to a continuous, proactive ecosystem driven by advanced digital infrastructure."
"Our upcoming IPO offers investors a unique opportunity to be part of an international healthcare platform. Backed by strong government policies, our solid domestic foothold, international presence, robust sector fundamentals, our focus on technology and innovation and international growth opportunities, all presents PureHealth as a unique and attractive investment proposition for investors. We look forward to listing on ADX, marking a significant milestone in our journey towards healthcare excellence," he added.
According to Pure Health, the company's founders - Alpha Dhabi Health Holding, IHC Healthcare Holding; Q Health; AH Capital and Al Ataa Investment - reserve the right to amend the size of the Offering (defined below) at any time prior to the end of the subscription period at their sole discretion, subject to applicable laws and the approval of the Securities & Commodities Authority (SCA).-TradeArabia News Service