{"id":92022,"date":"2024-11-28T00:00:00","date_gmt":"2024-11-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/28\/hospital-operator-almoosa-health-plans-to-debut-a-30-stake-on-tadawul\/"},"modified":"2024-11-28T00:00:00","modified_gmt":"2024-11-28T00:00:00","slug":"hospital-operator-almoosa-health-plans-to-debut-a-30-stake-on-tadawul","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/28\/hospital-operator-almoosa-health-plans-to-debut-a-30-stake-on-tadawul\/","title":{"rendered":"Hospital operator Almoosa Health plans to debut a 30% stake on Tadawul"},"content":{"rendered":"

Homegrown healthcare provider <\/strong>Almoosa Health<\/a><\/strong> to take a <\/strong>30% <\/strong>stake <\/strong>to<\/strong> Tadawul\u2019s<\/strong> main market<\/strong>, according to the prospectus (pdf)<\/a>. Part of the proceeds \u2014 after deducting an estimated SAR 52.4 mn in offering expenses \u2014 will be distributed to the selling shareholders, while the remaining will fuel the company\u2019s growth plans and to repay outstanding debt. It lined up CMA approval last October<\/a>. The story also got ink in Bloomberg<\/a>. <\/p>\n

Pre-set allocations: <\/strong>Of the 13.3 mn shares on offer, 21% will be newly issued shares to be added in the form of a capital increase. Tawuniya and Al Fozan Holding will be allocated 22% of the offering as anchor investors, and 30% of the offering will be allocated to public funds. <\/p>\n

Subscription limits: <\/strong>Institutional investors will be able to subscribe to 100% of the offering, booking a maximum of 2.2 mn shares, and a minimum of 100k shares each. Meanwhile, retail investors will be allocated up to 20% of the offering subject to demand and can book between 10 and 250k shares each. <\/p>\n

Timeline:<\/strong> Subscriptions for institutional investors will run from next Tuesday, 4 December through to 10 December, while subscription for retail investors will run for a two-day period beginning on 23 December. Final allocations of shares are slated for no later than 29 December.<\/p>\n

Post-IPO structure + lockup: <\/strong>The hospital operator\u2019s substantial shareholders, Abdulaziz bin Abdullah Almoosa Investment Co. (95%) and Abdulaziz Abdullah Almoosa Charity Co. (5%), will see their combined ownership diluted from 100% to 69.7%. They will not be able to sell down their positions for a six-month period starting from the first day of trading. <\/p>\n

About Almoosa: <\/strong>The healthcare provider currently operates two hospitals in the Eastern Province with 730 beds between them and is currently serving 1 mn patients annually, according to its intention to float document (pdf)<\/a>. It intends to double its capacity to 1.4k beds by 2028. <\/p>\n

ADVISORS-<\/strong> Our friends at EFG Hermes will act as underwriters and bookrunners on the transaction, alongside Banque Saudi Fransi Capital, which is also acting as the lead manager and financial advisor. PwC will act as financial due diligence advisor as well as market consultant, while Latham and Watkins is providing counsel. Moelis is advising the selling shareholders.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tawuniya and Alfozan Holding are anchor investors in the offering<\/p>\n","protected":false},"author":1,"featured_media":92023,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[3507,2419,10,13,29,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-amoosa-health","tag-capital-markets","tag-enterpriseam-ksa","tag-healthcare","tag-ipo-watch","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"ba117519-9b2b-4aa5-a915-b8dd61381d84","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2659.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Hospital operator Almoosa Health plans to debut a 30% stake on Tadawul","related_issue":[92014],"teaser":"Tawuniya and Alfozan Holding are anchor investors in the offering","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.3dac32ec-04e9-41e3-b79d-86bd09ba5d21.mp3"},"yoast_head":"\nHospital operator Almoosa Health plans to debut a 30% stake on Tadawul - 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