Mubasher TV
Contact Us Advertising   العربية

HMG launches IPO subscription for individual investors

HMG launches IPO subscription for individual investors
Photo Archive

Riyadh – Mubasher: The individual investors' subscription period of Dr. Sulaiman Al Habib Medical Group's (HMG) initial public offering (IPO) began on Wednesday and is set to end on 3 March.

The individual tranche includes a maximum 5.25 million shares, which represents around 10% of the IPO’s total size.

Saudi citizens and nationals from GCC countries are eligible for the tranche.

The minimum level for subscribing to the IPO is 10 shares, while the maximum level is capped at 500,000 shares.

HMG has signed five agreements with receiving banks, namely: NCB, Al Rajhi, Samba, SABB, and Riyad Bank.

It is worth noting that the offered shares total 52.5 million, representing 15% of the company’s shares, according to a company statement.

The participating entities book building began on 10 February and closed on 19 February. During that period, the subscription was carried out at the highest level of the price range at SAR 50.

The company’s capital amounted to SAR 3.5 billion, distributed over 350 million shares, with a par value of SAR 10 per share.