Shareholders plan to list major Jeddah hospital IMC on Saudi main market

This follows a raft of other Saudi companies announcing a potential listing on the Saudi bourse

  
Investors and speculators monitor stock prices on a screen at the FALCOM investment bank in Riyadh June 7, 2015.

Investors and speculators monitor stock prices on a screen at the FALCOM investment bank in Riyadh June 7, 2015.

REUTERS/Faisal AlNasser
 
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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