Abu Dhabi-based PureHealth has successfully concluded its IPO subscription process on the Abu Dhabi Securities Exchange (ADX), witnessing remarkable demand from investors in the UAE and the broader region. The final offer price was set at Dh3.26 per share, with 1.11 billion shares offered, representing 10% of the healthcare platform’s share capital valued at Dh3.62 billion.
Exceptional Demand and Oversubscriptions
The IPO, considered the largest healthcare platform in the Middle East, experienced overwhelming demand, resulting in multiple oversubscriptions. The total gross demand exceeded Dh265 billion during the subscription period from December 6 to Monday.
Segment-wise Demand: PureHealth
- Professional Subscribers: Demand reached Dh186 billion, showcasing an oversubscription level of 54 times.
- Retail Offering: Investors demonstrated substantial appetite, accumulating over Dh78 billion in demand, marking an oversubscription level of 483 times.
Farhan Malik’s Perspective
Farhan Malik, Founder and Managing Director of PureHealth, expressed confidence in the market’s endorsement of their achievements, management’s execution capability, and the vision for growth. He emphasized the IPO as a milestone unlocking PureHealth’s potential to transform healthcare systems.
Trading Commencement and Market Capitalization
Trading on the ADX is set to begin on December 20, with an estimated market capitalization at listing reaching Dh36.2 billion.
PureHealth boasts a diverse portfolio, including over 25 hospitals, 100 clinics, multiple diagnostic centers, health insurance solutions, pharmacies, health tech, and procurement services.