Dr. Sulaiman Al Habib Medical Group (HMG) started today, Feb. 10, the book-building process that is scheduled to end on Wednesday, Feb. 19.

 

The company will float 15% of its SAR 3.5 billion capital, or 52.2 million shares in an initial public offering (IPO).

 

Institutional investors are entitled to participate in the book-building process, whereby a total of 52.5 million shares, or 100% of the offering size will be allocated to them, subject to a 90% scale-back (47.25 million shares).

 

The offering price will be disclosed on Feb. 20. The retail offering will run from Feb. 26 through March 3.

 

HMG operates and manages hospitals, general and specialist clinics, and various medical facilities, offering a wide array of comprehensive healthcare services.

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