Kesay Clinics IPO on Nomu closes today

Kesay Clinics offers 2 million new shares at SAR 15 each

Subscription to Kesay Clinics Co.’s shares will close today, Feb. 22, at 4:00 p.m., as part of its public offering on the Nomu-Parallel Market.

The offering began on Feb. 11, with the company floating two million new shares, representing 5% of its post-IPO capital.

The offering is part of a capital increase through the issuance of new shares to support growth and expansion, including the opening of new branches.

Financial advisor Estidamah Capital set the IPO price at SAR 15 per share. The company’s post-listing capital will reach SAR 40 million.

The company reported nearly SAR 152 million in revenue and SAR 47 million in net profit in 2024, compared to SAR 149 million and SAR 36 million in 2023.

The company officially inaugurated its sixth branch on Feb. 1, 2026, on King Abdullah Road in Riyadh, in a step aiming to strengthen its operating capacity and enhance its ability to meet growing demand. The branch comprises three main divisions and 45 specialized clinics.

The opening aligns with the company’s expansion plans to reach 10 branches by the end of 2028. The sixth opening was financed from the company’s own resources, provided that the allocations will be reclassified from the net IPO proceeds generated from the capital increase to working capital, in line with the “Use of Proceeds” section stated in the related prospectus.