PureHealth IPO fully subscribed on debut, set for ADX listing
2023.12.06 15:48
© Reuters.
DUBAI – Investors showed robust demand for PureHealth’s initial public offering (IPO) as it became fully subscribed on its launch day. The healthcare giant, managing a network of prominent assets in the United Arab Emirates (UAE), including the leading medical insurer Daman, set its offer price at AED 3.26 per share, reaching a total value of AED 3.62 billion.
Founder and MD of PureHealth Farhan Malik highlighted the strong market appetite and the compelling investment opportunity that the company represents.
The company’s swift subscription success secures its rank as the UAE’s second-largest IPO this year, trailing only behind ADNOC Gas’s floatation.
PureHealth’s strong entry into the market reflects the growing investor interest in the UAE’s healthcare sector and follows a series of successful listings on the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX).
PureHealth’s portfolio encompasses an extensive ecosystem, which includes SEHA healthcare network, The Medical Office hospitals, Rafed procurement organization, PureLab regional lab network, Abu Dhabi Stem Cells Center specializing in regenerative medicine, One Health medical solutions, The Life Corner pharmacies, and Ardent American acute care hospitals.
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