Cairo (Special about Egypt) – Saudi Al Mousa Health Group announced its plans for an initial public offering, which represents the latest wave of healthcare-related listings in the Kingdom, according to what it published. The Bloomberg Group.
Details of the initial public offering
Al-Mousa plans to offer 13.3 million shares, representing 30% of the company, and the subscription period is expected to start on December 4 and end on December 24. The final allocations are expected to be announced on December 29. The initial public offering will be managed in collaboration with EFG Hermes, Saudi Fransi Capital, and Moelis & Co.
Vision 2030 and health care enhancement
Health care has emerged as a cornerstone of Crown Prince Mohammed bin Salman’s Vision 2030, a trillion-dollar initiative aimed at transforming the Saudi economy. The plan predicts significant population growth and an increase in life expectancy, which will drive investment in infrastructure and health services.
Recent listings in the sector underline its importance, including those by Middle East Pharmaceutical Industries Company and Dr. Soliman Abdul Qader Fakeeh Hospital Company. It is worth noting that Fakeeh’s IPO was the largest in Riyadh this year, although its shares rose slightly by 4.5% since the offering.
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Broader IPO activity
The health care IPO move is part of a larger increase in stock sales across Saudi Arabia, which was the busiest market in the Middle East for IPOs in 2024.
Together, the companies raised more than $16.8 billion, boosted by Saudi Aramco’s massive secondary offering in May. Upcoming listings include Nubco, the Kingdom’s largest medical supply company, and online cosmetics retailer Nice One.
Analysts see strong IPO activity as a sign that Saudi Arabia is trying to diversify its economy and attract global investors. While some IPOs, such as the Fakieh IPO, have shown mixed performance after listing, the continued listings reflect investor confidence in the Kingdom’s long-term vision.
Al Mousa’s entry into the public market reflects the key role of the healthcare sector in Saudi Arabia’s economic transformation, in line with the Vision 2030 ambitions for growth and modernization.
2024-11-27 19:13:00
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