Almoosa Health, Saudi Arabia’s hospital operator, will proceed with its initial public offering (IPO) and listing on the main Saudi Stock Exchange (Tadawul).
The company will float 13,291,074 ordinary shares, representing 30% of its share capital.
Almoosa Health will announce the price range for the offering and start the institutional book-building process on December 4, 2024.
The retail subscription period will run between December 23 and 24, with final allocations slated on December 29, 2024.
Saudi Fransi Capital is the financial advisor, lead manager, book-runner and underwriter of the IPO, while EFG Hermes KSA is the joint book-runner and underwriter.
The company, which started as Almoosa General Hospital, is launching the IPO after nearly three decades in the healthcare business.
“We believe that we have reached the right point in our journey to invite new shareholders to participate in our future growth,” said Maleek Almoosa, CEO.
The company operates Al Moosa Specialist Hospital and Al Moosa Rehabilitation Hospital in Saudi Arabia, with an aggregate portfolio of 730 inpatient beds, as well as 290 clinics.
As of September 2024, its revenue and net income reached SAR 870 million and SAR 40 million, respectively, while the EBITDA margin stood at 20%.
