The company will issue 22.5 million new shares, representing 30 percent of Al-Hammadi's total share capital, which will be available for public subscription at a share price to be determined after the institutional book building process.
The IPO will be divided into two tranches; the first tranche will be for institutional investors, including mutual funds and authorized persons as well as listed companies in accordance with the regulatory guidelines, while the second tranche will be for Saudi retail investors. All offered shares will be allocated to the institutional investors.
However, the institutional bookrunner may allocate up to 50 percent of the shares being offered through the IPO to retail investors, equaling 11.25 million shares.
"The majority of the proceeds from the IPO will be used to finance the completion of
"The IPO of Al-Hammadi will be a major milestone in the company's long and exciting journey and will provide us with the opportunity to significantly develop and expand our health care services as well as providing a platform to continue the leadership in the health care sector that Al-Hammadi has shown throughout the history of the company," he added.
"Our extensive expertise and experience includes managing some of the most successful IPOs in the Kingdom," says
With a history that dates back 30 years, Al-Hammadi is one of the leaders in health care service providers in Saudi Arabia. Its first hospital, the Al-Hammadi hospital, opened in the
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