EFG Hermes, a leading investment bank in the MENA region, announced the successful completion of its advisory role for the 449 million Initial Public Offering (IPO) of Almoosa Healthcare Company on the Saudi Exchange. The offering was met with an overwhelming investor response, demonstrating strong confidence in Saudi Arabia’s booming healthcare sector.
Investor Demand Soars for Almoosa Healthcare IPO
Almoosa Healthcare, a prominent provider of integrated healthcare services in Saudi Arabia, sold a total of 30% of its shares, with 9,303,580 new ordinary shares and 3,987,494 existing shares offered at SAR 127 per share. The IPO was significantly oversubscribed, with total book coverage exceeding 103 times.
A Key Player in Saudi Arabia’s Healthcare Sector
Almoosa Healthcare has been a trusted name in healthcare for over three decades. With two major hospitals, it serves over a million patients annually and maintains a solid financial profile, with SAR 979 million in revenue for 2023.
Read also:
LG Unveils Unified Vehicle Controller Platform at CES 2025
Central Bank of Egypt Extends Fee Exemption for Digital Transfers via InstaPay and IPN
Strategic Role of EFG Hermes
EFG Hermes acted as Joint Bookrunner and Underwriter in this transaction. Saud Altassan, CEO of EFG Hermes KSA, expressed pride in the successful IPO, noting its importance for Saudi Arabia’s healthcare sector and highlighting the investment bank’s leadership in capital market advisory.
Karim Meleka, Co-Head of Investment Banking, also emphasized the strong market appetite for healthcare assets.
About EFG Holding
EFG Holding is a prominent financial institution with a 40-year legacy. The company operates in eight countries across two continents, offering a wide range of financial services, including investment banking, asset management, and commercial banking solutions.
For more real-time economic news, follow us on our Facebook page here:
The Economic Digest website is an online platform specifically designed to provide users with comprehensive summaries of the most important economic events occurring in global and regional markets.
The aim of the Economic Digest is to offer accurate and concise information about economic developments, making it easier for readers to understand the events.