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DUBAI: A Saudi holding group, which owns part of IMC, is planning to sell the hospital’s shares in a public offering, the company said on filing, following a $118 million exit from Dubai’s Amanat.
Fitaihi Holding Group, which owns 19.25 percent of the hospital, said it will take the necessary measures to “transform it into a public joint-stock company” listed on Tadawul, Saudi Arabia’s main market.
This follows a raft of other Saudi companies announcing a potential listing on the Saudi bourse.
IMC is a polyclinic medical complex with a total capacity of 300 beds.
Fitaihi Holding Group said the move is part of the company’s long-term strategy to increase return on equity of its shareholders.
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