PureHealth’s IPO came in strong on the first day of trading: Healthcare giant PureHealth saw its shares close up 84% at AED after opening the day at AED 3.26, Bloomberg reports. The heavily oversubscribed IPO raised some AED 1 bn for selling shareholders, and PureHealth has a market capitalization of AED 36.2 bn.

Investors ❤️ PureHealth: PureHealth’s drew in strong investor demand during its bookbuilding process, with over AED 265 bn in orders. The institutional portion of the offering was 49x oversubscribed, while the retail portion closed on Monday at a 483x oversubscription rate.

Advisors: FAB is the lead manager and lead receiving bank of the IPO, with WIO Bank and Al Maryah Community Bank acting as supplementary receiving banks. International Securities was appointed as the lead placement agent.

REMEMBER- PureHealth’s IPO is the second largest in the UAE this year, with Adnoc Gas coming in first place with its USD 50 bn IPO in March.

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