Abu Dhabi’s Burjeel Holdings sets IPO price range at Dh2-Dh2.45 a share, subscriptions open today

Abu Dhabi’s Burjeel Holdings sets IPO price range at Dh2-Dh2.45 a share, subscriptions open today

Dubai: Subscriptions are opening today for Abu Dhabi headquartered Burjeel Holdings’ IPO, with a price range of Dh2 to Dh2.45 a share. This implies an equity value of $2.7 billion to $3.3 billion for the UAE’s biggest (by capacity) hospital and clinic operator, which is floating 11 per cent ahead of an ADX listing on October 10. The final offer price will be announced October 5. Stock market floats in Abu Dhabi have received an overwhelming response this year, and analyst feedback is that Burjeel will easily mop up local retail investor interest. “In terms of institutional backing, Burjeel has already received heavy backing – from Abu Dhabi’s International Holding Co. (IHC) buying 15 per cent just before the IPO announcement,” said an analyst. “Local retail investors will just follow that lead.”