UAE: Abu Dhabi’s PureHealth IPO fully subscribed on opening day

UAE: Abu Dhabi’s PureHealth IPO fully subscribed on opening day

Published: Wed 6 Dec 2023, 1:13 PM

The much-anticipated Abu Dhabi-based PureHealth Holding’s initial public offering (IPO) saw robust interest on the first day of the subscription period.

PureHealth is the largest healthcare platform in the Middle East and has a diverse portfolio comprising more than 25 hospitals, 100 clinics, multiple diagnostic centres, health insurance solutions, pharmacies, health tech, and procurement.

Farhan Malik, founder and managing director of PureHealth, pointed out an “overwhelmingly strong demand” for the IPO.

“It is fully subscribed on the opening day. I am incredibly excited to see the strong interest from investors and overall positive reception.”

The final offer price has been set at Dh3.26. The company is offering 1.11 billion shares representing 10 per cent of its share capital worth Dh3.62 billion.

“The IPO offers investors an attractive value proposition and the chance to be part of PureHealth’s journey, which is in itself a unique opportunity, we are on a strong growth trajectory with our recent international acquisitions and ambitious plans, backed by the visionary leadership of Abu Dhabi and the UAE.

The subscription period opened on Wednesday morning and will close on December 11 for both retail and professional tranches. The company intends to list its shares on the Abu