Burjeel Holdings successfully lists on ADX raising over AED 1.1bln

Burjeel Holdings successfully lists on ADX raising over AED 1.1bln

- Based on the final offer price of AED 2.00 per share, Burjeel Holdings’ market capitalization at listing was AED 10.4 billion, making it the largest healthcare company trading on ADX

- Total gross demand for the Offering amounted to over AED 32.0 billion, implying an oversubscription level of 29 times in aggregate

- The Group intends to pay cash dividends from 2023 onwards, on the expected basis of a pay-out ratio of 40 to 70 per cent of net income, dependent on the required investment for additional growth plans

Abu Dhabi: Burjeel Holdings PLC (“Burjeel” or the “Company” and, together with its subsidiaries, the “Group”), a leading MENA private healthcare services provider, listed today on the Abu Dhabi Securities Exchange (“ADX”), following the completion of its Initial Public Offering (“IPO”).

The IPO, which raised gross proceeds of more than AED 1.1 billion for the offering of 11 per cent of the Company’s total issued share capital, attracted total gross demand of more than AED 32.0 billion and was 29 times oversubscribed in aggregate. Burjeel Holdings’ shares were priced at AED 2.00, implying a market capitalization for the Company of AED 10.4 billion at the time of listing. At the time of listing, Burjeel