Dr. Sulaiman Al Habib Group to complete IPO’s book-building today

19/02/2020 Argaam

 

Dr. Sulaiman Al Habib Medical Group (HMG) is set to complete the book-building process for its initial public offering (IPO) today Feb. 19.

 

The book-building process kicked off on Feb. 10.

 

The final offering price will be announced tomorrow Feb. 20, and the retail offering will run from Feb. 26 through March 3.

 

The medical group had earlier set the price range for its IPO between SAR 43 and SAR 50 per share, Argaam reported.

 

Read: Sulaiman Al Habib Group sets IPO price range between SAR 43-50 per share

 

The IPO, which was officially launched for institutions on Feb. 10, will close today, Feb. 19.

A total of 52.5 million shares, or 100% of the offering size were 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.

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