Burjeel Holdings’ ADX-listed IPO to open on Sept 30

Burjeel Holdings’ ADX-listed IPO to open on Sept 30

Burjeel Holdings, one of the leading regional private healthcare service providers in the UAE and Oman, announced its intention to list on the Abu Dhabi Securities Exchange (ADX) on Saturday.

On offer is about 550.7 million shares, representing 11 per cent of the company, according to the issued prospectus. The offering will include 350.3 million shares to be sold by VPS Healthcare Holdings, which owns 79.8 per cent of Burjeel. It may be recalled that International Holding Co. bought a 15 per cent stake in Burjeel earlier this week.

The offer period for the First Tranche and the Second Tranche — as described in the prospectus — starts on September 30, 2022, and will close on October 4, 2022. Burjeel will announce the final price on October 5, and the shares are expected to be listed in Abu Dhabi on October 10, the prospectus shows.

With a network of 39 hospitals and medical centres, Burjeel Holdings is a leading healthcare provider in the UAE private market with an in-patient market share of approximately 17 per cent and an out-patient market share of approximately 12 per cent. Founded in 2007, Burjeel Holdings is all set to expand in Saudi Arabia shortly too.

BHM Capital Financial