Burjeel Holdings to use proceeds from new shares for expansion in UAE, Oman, Saudi: Dr. Shamsheer

Burjeel Holdings to use proceeds from new shares for expansion in UAE, Oman, Saudi: Dr. Shamsheer

ABU DHABI – Abu Dhabi-headquartered Burjeel Holdings PLC, which listed 11 percent of its share capital on the main market of the Abu Dhabi Securities Exchange (ADX), is planning to use the net proceeds from new shares mainly for further expansion in the UAE, Oman and Saudi Arabia, the company’s top executive told the Emirates News Agency (WAM).

“We intend to use the net proceeds from the issue of new shares to add further stability to our balance sheet and to deliver on our strategic priorities, including ramping up our growth assets, delivering projects that elevate patient experience, like digitalisation, and our entry into Saudi Arabia, which we announced in August,” said Dr. Shamsheer Vayalil Parambath, Founder and Chairman of Burjeel Holding.

Ongoing expansion in UAE, Oman, KSA

In an exclusive interview with WAM in Abu Dhabi, he further explained that the company’s focus throughout the listing process has been on raising capital and welcoming new established shareholders to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi Arabia.

“The final offer price reflects this desire, whilst also allowing us to prioritise a supportive aftermarket performance post-listing.”

Dr. Parambath said the strong demand for the company’s Initial public offering (IPO),