PureHealth IPO fully subscribed on first day

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Dec 06, 2023, 09:58 ET

ABU DHABI, UAE, Dec. 6, 2023 /PRNewswire/ -- PureHealth Holding PJSC (Public Joint Stock Company under incorporation; the "Company"), the largest healthcare platform in the Middle East, has confirmed robust interest in its Initial Public Offering (IPO), on the first day of the subscription period.

PureHealth IPO fully subscribed on first day

Farhan Malik, Founder and Managing Director of PureHealth, said: "We have seen an overwhelmingly strong demand for the IPO as it is fully subscribed on the opening day. I am incredibly excited to see the strong interest from investors and overall positive reception. The IPO offers investors an attractive value proposition and the chance to be part of PureHealth's journey, which is in itself a unique opportunity, we are on a strong growth trajectory with our recent international acquisitions and ambitious future plans, backed by the visionary leadership of Abu Dhabi and the UAE. Following this initial response, we look forward to our listing date with ADX, a significant milestone for PureHealth."

The Final Offer Price has been set at AED 3.26, resulting in an Offering of 1.11 billion shares, which will represent 10% of the share capital of the Company, worth AED 3.62 billion. The subscription period opened today morning and will close on 11 December 2023 for both Retail and Professional Tranches. The Company intends to list its shares on the Abu Dhabi Securities Exchange ("ADX"), on 20 December 2023.

The Prospectus and detailed information about PureHealth, its IPO, and the subscription process can be found at purehealth.ae/investor-relations/.

About PureHealth

By advancing the science of longevity, PureHealth is introducing the healthcare of the future from the UAE to the rest of the world. PureHealth is the largest integrated healthcare platform in the Middle East, with an ecosystem that challenges lifespans and reimagines health spans. With 25+ hospitals, 100+ clinics, multiple diagnostic centers, health insurance solutions, pharmacies, health tech, procurement, investments and more, its groundbreaking innovations are at the forefront of healthcare, as the company is on a mission to unlock time for humankind.

PureHealth's network of healthcare facilities across Abu Dhabi and the Northern Emirates comprises:

SEHA – Abu Dhabi Health Services Company – One of the largest healthcare networks of hospitals and clinics in the UAE
Daman – The National Health Insurance Company, the UAE's leading health insurer
The Medical Office – Overseeing Sheikh Khalifa Hospitals and healthcare facilities established under the initiatives of H.H. the President of the UAE
Rafed – The UAE's largest healthcare Group Purchasing Organization
PureLab – Managing and operating the largest network of laboratories in the region
Abu Dhabi Stem Cells Center – Specialist healthcare center focused on cell therapy and regenerative medicine
One Health – Sales, service support, and engineering network that provides end-to-end medical solutions
The Life Corner – Abu Dhabi's first holistic pharmacy, serving the health and wellness establishment
Ardent - The fourth largest privately held acute care hospital operator in the USA