MEAHCO IPO set to begin tomorrow

Middle East Healthcare Co. (MEAHCO) will launch its Initial Public Offering (IPO) on Thursday, March 3, 2015.

Accordingly, the company will allocate 8.28 million shares (30 percent of total IPO shares) to retail investors at SAR 64 per share.

MEAHCO is offering as many as 27.61 million shares or 30 percent of MEAHCO’s capital will be floated to institutional and retail investors.

Earlier, the book-building process saw 593.7 percent oversubscription amounting to SAR 10.5 billion, Samba Capital, the lead manager, said.

Mutual funds accounted for 168.4 percent, while investors licensed by the Saudi Capital Market Authority (CMA) represented 79.6 percent.

Tadawul-listed companies made up 240.9 percent of total subscriptions. Government entities, public institutions and state-owned companies accounted for 104.8 percent.