PureHealth IPO receives staggering demand, gross orders received of $72.1bln

PureHealth IPO receives staggering demand, gross orders received of $72.1bln

PureHealth Holding PJSC (Public Joint Stock Company under incorporation; the “Company”), today announced the successful completion of the subscription process for its initial public Offering (“IPO” or the “Offering”) on the First Market of the Abu Dhabi Securities Exchange (“ADX”). The Company confirmed the fixed price for the Offering which has been set at AED 3.26 per ordinary share (the “Final Offer Price”) with an Offering size of 1.11 billion ordinary shares (“Offer Shares”), equivalent to 10 percent of its total issued share capital. The Offering witnessed significant demand from investors within the UAE and the region, resulting in multiple oversubscriptions. The total gross demand for the Offering surpassed over AED 265 billion. The Professional Subscribers tranche attracted demand of AED 186 billion reflecting an oversubscription level of 54 times. Meanwhile, the Retail offering witnessed tremendous appetite from investors, accumulating demand in excess of AED 78 billion, marking an oversubscription level of 483 times. Commenting on the announcement, Farhan Malik, Founder and Managing Director of PureHealth, said, “There has been overwhelming demand for our IPO. This is a resounding endorsement of the market's confidence in our achievements, the management’s execution capability, and our vision for growth. The IPO unlocks PureHealth’s