The UAE-based healthcare platform PureHealth Holding PJSC on Friday announced that it plans to list its shares on the Abu Dhabi Securities Exchange (ADX) following an IPO of 10% of its share capital.

In a statement, the largest healthcare platform in the Middle East said it is offering more than 1.11 billion shares at an offer price of 3.26 dirhams per share ($0.89) amounting to a total size of AED 3.62 billion.

Retail subscribers (first tranche), will be offered approximately 4.5% of the total, or 50 million shares. Approximately 95.5% will be reserved for professional subscribers. For both the tranches the subscription period will open on December 6 and will close on December 11, 2023.

The shares are expected to be listed on ADX on December 20, subject to market conditions and obtaining the relevant regulatory approvals in the UAE.

PureHealth is majority-owned by Abu Dhabi investment fund ADQ, with International Holding Company (IHC) also holding a stake.

First Abu Dhabi Bank PJSC has been appointed as the lead manager and as the lead receiving bank.

(Writing by Brinda Darasha; editing by Seban Scaria)