Listing, trading of Canadian Medical Center shares on Nomu to start today

Logo of Canadian Medical Center

Canadian Medical Center’s shares will start trading on the Nomu Parallel Market tomorrow, Aug. 2, as the sixth direct listing on the market and the fifth in 2021.

Canadian Medical Center is the first medical company to be listed on the parallel market.

On June 28, the Capital Market Authority (CMA) approved the company’s request to register its shares for the purpose of direct listing in the parallel market, provided that trading of the shares will be confined to qualified investors.

Canadian Medical Center set the IPO price guidance at SAR 39 per share.

The medical center was established as a branch of a sole proprietorship in 2008, and it was transformed into a limited liability firm in 2016, with a capital of SAR 77 million.

The company's business falls under two main scopes, namely, the medical centers business, which is the management of hospitals and health centers, trade in hospital tools and equipment and ambulances, and the implementation of contracts for medical clinics.

It owns two medical centers in Dammam and Al Khobar, where it provides health services through clinics covering various specialties. It also intends to officially open Canadian Medical Center - Abqaiq branch in H2 2021.

Canadian Medical Center is one of the leading medical companies in providing healthcare to the oil and gas sector, as it has a number of contracts with entities operating in the Kingdom, most of which are drilling and contracting companies in the oil and gas sector contracted with Saudi Aramco. It provides medical services within the sites of the projects in the Kingdom and some Gulf countries.