British pharmaceutical firm eyes dual listing on London, Tadawul

British pharmaceutical firm eyes dual listing on London, Tadawul

"BMG developed interest across a broad range of institutions and family offices. We are now in due diligence with a number of parties,“ Toby Wilson Waterworth, chief executive at Atlantic Healthcare, told Arab News, adding that the $50 million target has already been "oversubscribed.“ Once the due diligence has been completed, the second phase will be a listing on the London Stock Exchange, and the third and final phase will be a secondary listing on Tadawul. "We're in the process of working to close the investment, and then the plan is to turn that into the IPO process. We've been speaking to a number of banks in London and in New York, and we've spoken to a number of banks in the Middle East,“ Waterworth said. "The plan to do the primary listing would be at the end of this year, maybe drifting into the beginning of 2022. And then, once we've done that, the plan would be to do the secondary listing,“ he added. Tadawul announced in September 2019 that it was to allow foreign companies to list on its exchange for the first time. If all goes to plan, Atlantic Healthcare could potentially be the first British company