Saudi Al-Dawaa to list on TASI early next week after $500mln IPO

Ahmed Yosri

The pharmacy chain operator will list on Saudi Arabia’s main index TASI on March 14

Staff Writer, Arab News

March 10, 2022

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RIYADH: Al-Dawaa Medical Services Co. is the latest in joining the ongoing listing spree on Saudi stock exchange.

The pharmacy chain operator will list on Saudi Arabia’s main index TASI on March 14, a bourse filing showed.

Ahead of listing, the Saudi-based firm collected SR1.9 billion ($500 million) from an IPO that was priced at the end of an indicative range after seeing strong investor demand.

The company offered 25.5 million shares, representing 30 percent of capital.

GIB Capital was the financial advisor, lead manager, book-runner, and underwriter of the offering.

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