Dr. Sulaiman Al Habib Medical Group (HMG) issued on Wednesday a prospectus for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).

 

The medical group will float 52.50 million shares, or 15% of its capital in the planned IPO.

 

In September, the Capital Market Authority (CMA) approved Dr. Sulaiman Al Habib Medical Group’s request to sell 52.5 million shares, Argaam reported.

 

Read: Sulaiman Al Habib Medical Group plans IPO in February

 

The institutional offering will begin on Feb. 10 and end on Feb. 19, HMG said, adding that the offering price will be announced on Feb. 20.

 

The retail offering will run from Feb. 26 through March 3.

 

The IPO is split into two tranches, one each for institutional and retail investors.

 

The institutional tranche comprises all categories of investors entitled to participate in the book-building process. A total of 52.5 million shares, or 100% of the offering size will be allocated to institutional investors, subject to a scaleback to 90% (47.25 million shares).

 

The final allocation will follow the completion of the retail offering.

 

The retail tranche comprises Saudi natural persons, including any Saudi female divorcee or widow with minor children from a non-Saudi father, and any GCC national. Up to 10% of the offering size (5.25 million shares) will be allocated to this tranche.

 

Major Shareholders

Shareholder

Number of shares before IPO

(mln shares)

Stake

%

Number of shares after IPO

(mln shares)

Stake

%

Sulaiman bin Abdulaziz S. Al Habib

157.49

45.00 %

140.11

40.03 %

Thabat Ltd.*

12.85

3.67 %

12.85

3.67 %

Mohammed bin Abdulaziz  Al Habib & Sons Holding

152.90

43.69%

118.14

33.75 %

Jawarat Al Bahr **

17.43

4.98 %

17.43

4.98 %

Others

9.33

2.67%

8.98

2.57%

Public

--

--

52.50

15.00 %

Total

350

100 %

350

100 %

* Fully owned by Sulaiman Abdulaziz al Habib.

** Fully owned by Mohammed bin Abdulaziz Al Habib & Sons Holding

 

Company’s Profile

Company

Sulaiman Al Habib Medical Group Co. (HMG)

Market

TASI

Main activities

Managing and operating hospitals, specialized clinics, medical centers and one-day surgery centers in addition to some supporting activities

Status

Active

Capital

SAR 3.5 bln

 

IPO Summary

Issue percentage (%)

15%

Number of shares offered

52.50 mln shares

IPO Price

Determined through book building process

Qualified subscribers

-Retail investors are allocated up to 10% of the offering or 5.25 mln shares

-Pparticipating parties are allocated 100% of the offering size and it can be reduced to 90%

IPO minimum size for retail investors

10 shares

IPO minimum size for institutional investors

100,000 shares

IPO maximum limit for retail investors

500,000 shares

IPO maximum limit for institutional investors

17.5 mln shares

IPO period

7 days (date yet to be determined)

 

Additional Information

Financial advisor

Riyad Capital

Lead manager, underwriter

Jadwa Investment- Riyad Capital

Institutional bookrunners

Jadwa Investment- Riyad Capital- EFG Hermes Saudi Arabia

Receiving banks

Riyad, NCB, Al Rajhi , SABB and Samba

the prospectus

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