Almoosa Health Group Eyes Saudi Stock Exchange Debut

Almoosa Health Group Eyes Saudi Stock Exchange Debut

By Staff Writer, 14 January 2024

Almoosa Health Group, a prominent healthcare provider, is gearing up to make its debut on the Saudi stock exchange later this year, according to sources reported by Bloomberg.

The company, known for managing a network of 750 patient beds in the Eastern province, has enlisted Saudi Fransi Capital to provide guidance for the potential share sale.

While specific details of the initial public offering (IPO) such as its valuation and timeline remain in the preliminary stages, insiders revealed to Bloomberg that they may undergo adjustments as plans progress.

In a parallel development, Middle East Pharmaceutical Industries, also recognized as Avalon Pharma, has announced the pricing details for its upcoming IPO on the Saudi Exchange's main market.

The company is set to offer six million shares at a price range of SAR 78 to 82 ($20.80-21.87).

Investors and market observers will be closely monitoring these developments as both healthcare entities navigate the complexities of the stock market.

Brinda Darasha / Zawya

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