Logo of Al-Dawaa Medical Services Co.
Al-Dawaa Medical Services Co. (DMSCO) decided to proceed with its initial public offering (IPO) and list on the Saudi Exchange (Tadawul).
The step comes after the Capital Market Authority (CMA) approved the listing request on Dec. 22, 2021.
The company plans to offer 25.5 million shares, representing 30% of its SAR 850 million capital, in the IPO.
DMSCO’s shares will be sold in an IPO to retail and institutional investors, with all shares to be offered to institutional investors with the possibility of allocating 10% of the total IPO shares to retail investors, the company said.
The timeframe of the process has been set, with the book-building process set to begin on Feb. 13 until Feb. 17. The retail investors’ subscription period will run from Feb. 27 until March 1.
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IPO Timeline |
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Item |
Details |
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IPO intention announcement |
Jan. 23, 2022 |
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Book-building process |
Feb. 13-17, 2022 |
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Retail IPO |
Feb. 27 to March 1, 2022 |
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Shares allotment and surplus refund |
March 9, 2022 |
DMSCO’s first pharmacy was established in 1993. It currently owns over 800 pharmacies across the Kingdom, in addition to wholesale and e-sales channels.
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Company Profile |
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Company |
Al-Dawaa Medical Services Co. (DMSCO) |
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Status |
Active |
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Market |
Tadawul-Main Market |
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Core Activities |
Medical Services |
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Capital |
SAR 96 mln |
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Capital after IPO |
SAR 850 mln |
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IPO Highlights |
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Number of IPO shares |
25.5 mln |
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Issue percentage (%) |
30% |
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Participating categories’ share |
25.5 million shares, representing 100% of the IPO shares. It will decrease to 90%, or 22.95 million shares, in case of retail investors IPO |
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Retail investors’ shares |
2.55 million, representing 10% of the IPO shares |
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Additional Information |
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Financial advisor, lead manager, main underwriter and book runner |
GIP Capital |
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Co-underwriters |
Alinma Investment, ANB Invest |
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Receiving banks |
Saudi National Bank, Saudi British Bank, Al Rajhi Bank, Riyad Bank |
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