PureHealth Holding’s shares made a remarkable debut on the Abu Dhabi Securities Exchange (ADX), soaring by more than 76% and closing at Dh5.74 on the first day of trading. The day began with the share’s opening price at Dh3.26 and reached a high of Dh6.00 during the trading session.
The company’s market capitalisation experienced a substantial surge, escalating from Dh36.22 billion at the time of listing to Dh63.77 billion by the close of the trading day. Trading activity on its debut was robust, witnessing transactions worth over Dh218.7 million, with 39.14 million shares changing hands in 6,418 transactions.
PureHealth Holding PJSC, the Middle East’s largest healthcare platform, previously announced an Initial Public Offering (IPO) of 1.11 billion shares on the First Market of ADX, equivalent to 10% of the company’s total share capital, on December 1.
Earlier this week, Shaista Asif, co-founder and group chief operating officer of PureHealth, was named the group CEO and Farhan Malik as managing director in a leadership restructuring. The move will align with its business strategy and simplify the healthcare group’s management structure.
“Under the new structure, PureHealth founder Farhan Malik will have an expanded mandate, including further developing PureHealth’s business globally, formulating effective strategies and ensuring the delivery of service excellence to clients, thereby adding value to shareholders,” the company said in a statement.
