Saudi Arabia’s Almoosa Health Company has set its final offer price at SAR 127 ($33.8) per share, the top of the range, giving the company a market capitalisation of SAR 5.63 billion ($1.5 billion).
The institutional book-building process drew strong demand, with the order book reaching SAR 173 billion and oversubscribed 103 times. The company’s SAR 1.69 billion IPO is the second-largest in Saudi Arabia this year, following Fakeeh Care Group’s $764 million listing.
The offering includes 13.29 million shares, representing 30% of Almoosa Health’s share capital after the capital increase. Cornerstone investors, including Insurance (Tawuniya) and Alfozan Holding Company, have committed to purchasing 2,924,036 shares at the offer price, representing 22% of the total offer shares.
The subscription period for retail investors will run from December 23 to December 24, 2024, with the final allocation announcement set for December 29, 2024. The company is expected to list on the Saudi Exchange’s Main Market upon completion of the necessary legal procedures.
Founded 30 years ago, Almoosa Health operates two hospitals in Saudi Arabia’s Eastern Province, offering a total of 730 beds.
