Magrabi Group considers IPO of hospitals unit on Tadawul: Report

Logo of Magrabi Medical Group Holdings Co.

Magrabi Medical Group Holdings Co., one of the Middle East’s leading optical retailers and operator of eye clinics, is studying the offering of its hospitals business on the Saudi Exchange (Tadawul) next year, Bloomberg reported, citing sources familiar with the matter.

The family-owned company has asked banks to apply for a role in the Tadawul IPO. Rothschild & Co. was already picked as financial advisor on the offering, which could raise about $200 million, they said.

Magrabi Group was established in 1955 as an eyecare hospital in Jeddah. It currently owns more than 32 branches across five countries, specializing in the fields of ophthalmology, ear, nose, throat (ENT) and dentistry, according to Argaam’s data.

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