Riyadh – Mubasher: Sulaiman Al Habib Medical Services Group revealed the price range for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).

The group announced on Tuesday that the offering of 15% of its shares will be prices at SAR 43-50 per share.

The IPO was officially launched on Monday for institutions, until 19 February.

Subsequently, the retail subscription period will begin on 26 February and run until 3 March.

A total of 52.5 million shares are included in the institutional offering, however, the IPO manager could reduce the size of the offering by 10% to 47.5 million shares, in case there is sufficient demand from retail investors.

Earlier this month, media reports suggested Tadawul could see the listing of three new companies during the first half (H1) of 2020, after the successful listing of Saudi Aramco.