MEAHCO raises SR12b from IPO

05/04/2016 07:20 AST

MIDDLE East Healthcare Company (MEAHCO) has successfully closed the initial public offering (IPO) of the shares that owns and operate the Saudi German Hospitals, the largest hospital brand in the region. The IPO of MEAHCO involved the sale of 27.61 million shares, representing 30% of MEAHCO's share capital. The total amount of generated combined orders/subscriptions was SR12 billion. The coverage ratio of institutional investors was 593.7%, while the coverage of individual investors was 274.2%.

Engineer Sobhi A. Batterjee, Chairman of MEAHCO, said " We are very pleased with the outcome of the IPO. We believe that the high participation rates, particularly during the current market conditions reflect the confidence of citizens and investment community in the investment value and growth potential of the company. The IPO of MEAHCO is an important milestone in the Company's successful journey. We thank all the investors for their participation in the IPO and for the confidence they have shown in MEAHCO.

We welcome them as our shareholders and partners and we are committed to operating as a responsible publicly listed company, and continue to offer quality medical care to our patients and create value for our shareholders. MEAHCO is operating in a sector with a bright outlook, and has exciting growth prospects, with a number of expansion projects already underway."

Saudi Gazette

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