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PureHealth unveils IPO for ADX listing

PureHealth unveils IPO for ADX listing
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Abu Dhabi – Mubasher: PureHealth Holding set the final offer for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) at AED 3.26 per share, according to a press release.

The company plans to list 1.11 billion shares, representing 10% of its share capital, which will amount to AED 3.62 billion. The subscription period will take place during 6-11 December 2023 for both the tranches.

Subject to regulatory approvals, PureHealth intends to list its shares on ADX on 20 December 2023.

Farhan Malik, Managing Director of PureHealth, said: “Our upcoming IPO offers investors a unique opportunity to be part of an international healthcare platform.

“We look forward to listing on ADX, marking a significant milestone in our journey towards healthcare excellence,” Malik added.

Retail subscribers will comprise nearly 4.50% of the offer shares, equivalent to 50 million shares.

As for the professional subscribers, they will represent around 95.5% of the offer shares, accounting for 1.06 billion shares.

Meanwhile, the First Abu Dhabi Bank (FAB)has been appointed as the lead receiving bank as well as the lead manager.

WIO Bank and Al Maryah Community Bank were named as receiving banks.

International Securities was appointed as the lead placement agent.

Last November, PureHealth announced plans to float shares on ADX to solidify its position in the healthcare sector.