Dr. Sulaiman Al Habib Group to debut on Tadawul on March 17

The Saudi Stock Exchange (Tadawul) announced that shares of Dr. Sulaiman Al Habib Medical Services Group will be listed and start trading as of Tuesday, March 17, 2020, under the symbol 4013, with a 10% daily price fluctuation limit per share.

The Securities Depository Center Company (Edaa) deposited today, March 15, subscribed shares of Dr. Sulaiman Al Habib Medical Group into investors’ accounts, Argaam reported earlier.

The initial public offering (IPO) of Dr. Sulaiman Al Habib Medical Group Co. was subscribed around 83 times, as investors injected nearly SAR 217 billion.

The retail offering ended on Tuesday, March 3, 2020, as 5.25 million shares (or 10% of the total offered shares amounting to 52.5 million) were allocated to the retail investors.

A minimum of 10 shares were allocated to each retail subscriber, and the remaining were allocated pro rata with an allotment ratio of around 8.6%.

The IPO was 8270% oversubscribed (83 times) with funds exceeding SAR 217 billion.

The listing of Dr. Sulaiman Al Habib Medical Services Group is the first on the main Saudi market so far during the current year, and the first in the health care sector since 2016.