Riyadh – Mubasher: Almoosa Health Company plans to proceed with its initial public offering (IPO) for listing 30% of its ordinary shares on the Main Market of the Saudi Exchange (Tadawul).
The Capital Market Authority (CMA) approved Almoosa Health’s IPO on 30 September 2024, according to a press release.
The Saudi firm seeks to trade 13.29 million ordinary shares by the issuance of 9.30 million new ordinary shares and the sale of 3.98 million shares by its shareholders.
Meanwhile, the Offering price will be determined at the end of a book building process.
The net proceeds will be paid to and used by the company to finance its growth strategy and repay part of its outstanding debt amount.
Abdulaziz Almoosa, Chairman of Almoosa Health, commented: “This important milestone aligns with our long-term vision to enhance healthcare services across the Eastern Province and reflects our deep and long-standing commitment to transparency and operational excellence.”
“By going public, we aim to further expand our capabilities and growth prospects by investing in advanced medical technologies and continuing to deliver exceptional care to our patients,” Almoosa mentioned.
Malik Almoosa, CEO of Almoosa Health, said: “We operate a leading integrated healthcare ecosystem offering a comprehensive range of services to patients across the care continuum, and our aim is to double current bed capacity while focusing on key areas such as investment in human capital, promoting greater health awareness and building on our leadership in quality care.”
