Samba Capital Raises SAR 12 billion for MEAHCO IPO

Samba Capital & Investment Management Company ("Samba Capital") announces the successful closing of the initial public offering ("IPO") of the shares of the Middle East Healthcare Company ("MEAHCO"), owner and operator of Saudi German Hospitals in Saudi Arabia). The IPO of MEAHCO involved the sale of 27.61 million shares, representing 30% of MEAHCO's share capital. The total amount of

  
27 March 2016
Middle East Healthcare Company ("MEAHCO") pays tribute to Samba Capital's excellent performance in managing the IPO
Samba Capital & Investment Management Company ("Samba Capital") announces the successful closing of the initial public offering ("IPO") of the shares of the Middle East Healthcare Company ("MEAHCO"), owner and operator of Saudi German Hospitals in Saudi Arabia). The IPO of MEAHCO involved the sale of 27.61 million shares, representing 30% of MEAHCO's share capital. The total amount of generated combined orders/subscriptions was SAR 12 billion. The coverage ratio of institutional investors was 593.7%, while the coverage of individual investors was 274.2%.

MEAHCO  commends the performance of Samba Capital (Financial Advisor, Bookrunner, Lead Manager and Sole Underwriter) in managing the IPO. It also commends the efforts of all other involved parties that contributed to the success of the company's IPO, stressing that the achieved high participation rates and broad interaction reflects the confidence of citizens and investment community in the investment value of the company and the drivers of its future growth.

Engineer Sobhi A. Batterjee, Chairman of MEAHCO, commented "We are very pleased with the outcome of the IPO. The success of the IPO, in the current market conditions, is a testament to Samba Capital's capabilities. The IPO of MEAHCO is an important milestone in the Company's successful journey.  We would like to thank all the investors for their participation in the IPO and for the confidence they have shown in MEAHCO.  We welcome them as our shareholders and partners and we are committed to operating as a responsible publicly listed company, and continue to offer quality medical care to our patients and create value for our shareholders. MEAHCO is operating in a sector with a bright outlook, and has exciting growth prospects, with a number of expansion projects already underway."   

From his side. Mr. Eisa M. Al Eisa, Chairman of Samba Capital & Investment Management Company, congratulated Middle East Healthcare Company ("MEAHCO"), for the success of the IPO, high participation rate and oversubscription, a testament to the reputation and standing of the company, a leader in the healthcare services sector on a local and regional level. Al Eisa says "We are proud of Samba Capital's role in managing the IPO, deploying its accumulated experience and advanced capabilities to ensure the success of the transaction."

Al Eisa pointed out that the management of MEAHCO's IPO further emphasises the reputation of Samba Capital as a pioneer in leading and managing IPOs. He added "Samba Capital was engaged over the past years in leading a large number of IPOs for major companies operating in the Saudi market from different business sectors, including the healthcare sector, having advised on three of the five healthcare companies that were offered to the public through an IPO, which showcases our domain expertise and market experience."

-Ends-

About MEAHCO:
MEAHCO is a leading healthcare company in the Middle East with a wide geographical footprint. It was established as a closed joint stock company in 2004 and currently owns, operates and manages four hospitals in the Kingdom of Saudi Arabia ("KSA") under the brand name Saudi German Hospital ("SGH"). The first SGH hospital was established in Jeddah in 1988, followed by SGH Aseer in 2000, SGH Riyadh in 2001, and SGH Madinah in 2003. Apart from owning and operating the four hospitals in Saudi Arabia, MEAHCO provides management supervision services to three hospitals in Dubai (UAE), Cairo (Egypt) and Sanaa (Yemen) that operate under the Saudi German Hospital brand name. MEAHCO is currently constructing a new hospital in Hail, which is expected to start operations in 2016. It also has plans to develop a new hospital in Dammam, which is expected to commence operations in 2018.

About Samba Capital:
Samba Capital, wholly owned by Samba Financial Group and licensed by the CMA, is a leading investment advisory and management firm in Saudi Arabia.  Samba Capital offers a full suite of services including Corporate Finance & Investment Banking, Asset Management and Brokerage (Authorized by the Capital Market Authority, license No. 07069-37 and located in Kingdom Center, King Fahd Road in Riyadh)

© Press Release 2016

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