Almoosa Health’s shares climbed 15.0% on their first day of trading on Tadawul’s main market yesterday, closing at SAR 146.0 apiece, according to market data. The shares hit an intraday high of SAR 165.0 apiece (+18.2%) before paring gains. Tadawul rules allow shares to trade within a ±30% band on the first three days of trading. Starting from the fourth day of trading, that band is capped at no more than 10% up or down before circuit breakers kick in.

REFRESHER- The Al Ahsa-based hospital operator took a 30% stake to market at SAR 127.0per share. The IPO’s pricing saw the firm lock in nearly SAR 1.7 bn in proceeds, and gave it a market cap of SAR 5.6 bn at listing.

ADVISORS- Our friends at EFG Hermes are underwriters and bookrunners on the transaction, alongside Banque Saudi Fransi Capital, which is also acting as the lead manager and financial advisor. PwC is financial due diligence advisor as well as market consultant, while Latham and Watkins is providing counsel. Moelis is advising the selling shareholders.

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