Saudi's Dr. Sulaiman Al Habib Medical Group plans February IPO

Hospital operator appoints Jadwa Investment and Riyad Captial as advisers, Bloomberg reported

  
Image used for illustrative purpose. Patient beds in hospital room.

Image used for illustrative purpose. Patient beds in hospital room.

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Saudi Arabia’s largest private hospital operator, Dr. Sulaiman Al Habib Medical Group, plans an initial public offering next month, according to reports.

The hospital operator has appointed Jadwa Investment and Riyad Capital as advisers on the deal, Bloomberg has reported.

The Saudi healthcare firm's move will be the first IPO in Saudi Arabia after Aramco raised more than $29 billion in December 2019.

In September 2019 Saudi Arabia's Capital Market Authority approved a sale of 52.5 million shares representing around 15 per cent of the medical group's share capital.

The company operates at least 14 medical facilities across Saudi Arabia, the UAE and Bahrain.

(Writing by Seban Scaria; editing by Daniel Luiz)

(seban.scaria@refinitiv.com)

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