EFG Hermes leads Almoosa Healthcare’s $449m IPO on Tadawul - Mubasher Info

EFG Holding
HRHO -0.63% 20.67 -0.13 ALMOOSA
4018 -3.99% 134.80 -5.60

Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, concluded its advisory on the $449 million initial public offering (IPO) of Almoosa Healthcare Company, according to a press release.

Through its investment banking division, EFG Hermes acted as a joint bookrunner and underwriter on the transaction.

Almoosa Health offered 30% of its total issued share capital on the Main Market of the Saudi Exchange (Tadawul).

The Saudi firm’s IPO implied a market cap of SAR 5.60 billion ($1.50 billion), with the total book covered nearly 103 times.

Under the ticker ALMOOSA, the company listed 13.29 million shares on Tadawul after the Capital Market Authority (CMA) greenlighted its IPO last September.

Saud Altassan, CEO of EFG Hermes KSA, commented: “The strong investor demand reflects confidence in the market’s potential and reinforces EFG Hermes’ position as a leader in capital market advisory across the region.”

Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said: “The success of Almoosa Health’s IPO underscores the market’s strong appetite for high-quality healthcare assets in the Kingdom.”

Last December, EFG Hermes advised the SAR 990 million offering of United International Holding Company (UIHC) on Tadawul. 

Source: Mubasher Source: {{details.article.source}}