Riyadh – Mubasher: Dr. Sulaiman Al Habib Medical Services Group Company (HMG) on Wednesday revealed the details of an initial public offering (IPO) on the main market of the Saudi Stock Exchange (Tadawul).

The offered shares total 52.5 million, representing 15% of HMG’s shares, according to a company statement.

Jadwa Investment Company and Riyad Capital Company have been appointed as joint financial advisors for the offering.

The IPO’s lead manager will have the right to reduce the number of the shares allocated to the participating entities to 47.25 million if there is sufficient demand from individual investors and participating entities subscribed to all offer shares allocated to them.

HMG published the following timetable for the IPO: