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Sulaiman Al Habib Group joins Tadawul

Sulaiman Al Habib Group joins Tadawul
The company reported SAR 870 million profits for last year
-0.64% 62.20 -0.40

Riyadh – Mubasher: Dr. Sulaiman Al Habib Medical Services Group has officially joined the Saudi Stock Exchange (Tadawul) on Tuesday 17 March 2020.

Trading the shares of the medical company began today with a 10% daily price fluctuation limit.

Moreover, the stock has been assigned with the ‘4013’ symbol.

Earlier today, the group reported an 8.6% growth in its annual profits for 2019 to SAR 870.23 million, on the back of a 9.7% increase in revenues to SAR 5.03 billion.

It is worth noting that the medical services company launched its initial public offering (IPO) last month, offering 15% of its shares at a price of SAR 43-50 per share.

A total of 52.5 million shares were offered through the IPO, which was managed by Jadwa Investment and Riyad Capital as joint financial advisors, and was oversubscribed by 83 times with demand of SAR 217 billion.