Healthcare giant PureHealth is heading to the ADX next month: Abu Dhabi-based International Holding Company (IHC) subsidiary PureHealth has announced its intention to float on the Abu Dhabi Securities Exchange (ADX) in December, according to a press release. The company is awaiting some regulatory approvals ahead of the listing.

There’s a lot we don’t know: Details on the size of the IPO, who the eligible investors are, and the subscription schedule have not yet been disclosed. PureHealth also declined to disclose who the firm had hired as advisors for the transaction.

About the company: PureHealth is the Middle East’s largest healthcare platform and currently operates over 25 hospitals and 100 clinics after merging with SEHA and Daman in 2022. In August, the firm acquired the UK’s largest private healthcare provider, Circle Health Group, for AED 4.4 bn.

The current shareholders: Alpha Dhabi Holding, AH Capital, Ataa Financial investments, International Holding Company, and ADQ are all PureHealth shareholders, with Sheikh Tahnoon bin Zayed Al Nahyan set to have the largest share in PureHealth by virtue of his chairmanship of both IHC and ADQ, Bloomberg reports.

A while in the making: Rumors of PureHealth’s listing have been circulating for years, with Bloomberg reporting IHC’s plans to list PureHealth as far back as December 2021. In November 2022, Reuters reported that the IPO might take place in 1Q 2023, saying that it was aiming to raise over USD 1 bn.

Tags: