Middle East Healthcare begins IPO book building process

17/02/2016 Argaam

Middle East Healthcare Co. (MEAHCO), owner of the Saudi German Hospitals, will begin the book building process for its initial public offering (IPO) on Wednesday. The process will continue for seven days.

 

During the book building process various parties willing to participate in the process will meet and determine the offering price which should then be approved by the Saudi market regulator, Capital Market Authority (CMA), said Samba Capital the financial advisor, lead manager and underwriter of the offering.

 

The healthcare firm’s IPO will take place between March 3 and March 9, 2015, once a book-building process is completed.

 

The IPO was previously set to take place from Feb. 3-9, 2016 but was postponed due to market conditions.

 

Up to 27.61 million shares, or 100 percent of the floated shares, will be offered to institutional investors in the first round. However, the lead manager reserves the right to reduce this percentage to 60 percent, or 19.33 million shares after obtaining an approval from the CMA. 

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