Monday 10 October 2022 – 15:42
ABU DHABI, October 10 / WAM / Burjeel Holding PLC today announced that it has successfully listed on the Abu Dhabi Securities Exchange following the completion of the initial public offering of its shares.
The offering achieved total returns of 1.1 billion dirhams, compared to the offer of 11% of the company’s total issued capital, as the total demand for the initial public offering was over 32 billion dirhams and has exceeded the subscription requests by 29 times.
The final offer price of Burjeel Holding shares was 2.00 dirhams, which means that the company’s market value reached 10.4 billion dirhams at the time of listing, making it the largest publicly traded healthcare company on the stock exchange. Abu Dhabi.
The Group intends to start paying cash dividends starting in 2023, at an expected rate of 40 to 70% of net profit, depending on the investments needed to implement further growth plans.
Interestingly, the Burjeel Holding Company was founded in 2007 with the opening of the LLH hospital in Abu Dhabi and its vision was to enable access to high quality healthcare for all groups in the UAE. United while ensuring quality and excellence in clinical care. currently operates an integrated health network consisting of 61 assets, including: This includes 16 hospitals and 23 medical centers. The group’s network provides primary, secondary, tertiary and quaternary care services and is looking to begin expanding into the Kingdom of England soon. Saudi Arabia.
During the celebration of the commencement of trading in the group’s shares, Hisham Khaled Malek, Chairman of the Board of Directors of the Abu Dhabi Securities Exchange, said: “We congratulate Burjeel Holding on the success of its initial public offering and the we welcome as a public company listed on the Abu Dhabi Securities Exchange. Burjeel Holding Company is a model for the rise of leading companies to become leading publicly traded companies through a clear vision and commitment to excellence. We are proud of the pivotal role the Abu Dhabi Securities Exchange plays in promoting economic diversification efforts in the UAE by providing a platform that helps companies reach investors around the world. “
For his part, Dr. Shamshir Vayalil Parampath, founder and president of Burjeel Holding, said: “Today we celebrate the success of the initial public offering and the listing of our company on the Abu Dhabi Securities Exchange, in the emirate, which is an essential part of our successful journey. We are delighted that many years of dedication and commitment have been crowned with this achievement. The company’s IPO reflects our commitment to promoting diversification and growth in the capital markets of the UAE, positioning Abu Dhabi as an attractive investment destination. All of our employees have demonstrated the highest level of perseverance, commitment and passion, helping Burjeel Holding to become one of the leading healthcare providers in the Middle East and North Africa region and the most large healthcare company listed on the Abu Dhabi stock exchange.
Dubai Islamic Bank PJSC has taken on the role of lead manager, while First Abu Dhabi Bank PJSC has taken on the role of main receiving bank, with International Securities LLC selected as financial advisor and BHM Capital Services has been appointed Finance PJSC as listing advisor.
JPMorgan Securities plc (“JP Morgan”) acted as a capital markets advisor to the company and the selling shareholder in connection with the initial public offering.
Abdel Nasser Moneim / Ramy Samih
