{"id":87575,"date":"2023-12-13T00:00:00","date_gmt":"2023-12-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/purehealth-ipo-is-red-hot\/"},"modified":"2023-12-13T00:00:00","modified_gmt":"2023-12-13T00:00:00","slug":"purehealth-ipo-is-red-hot","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/13\/purehealth-ipo-is-red-hot\/","title":{"rendered":"PureHealth IPO is red-hot"},"content":{"rendered":"

Healthcare giant PureHealth\u2019s AED 3.62 bn IPO closed with over AED 265 bn in orders<\/strong>, according to a press release<\/a>. The institutional portion of the offering was 49x oversubscribed, while the retail portion closed on Monday at a 483x oversubscription rate.<\/p>\n

Share price set:<\/strong>The ADQ-owned company has priced its IPO at AED 3.26, putting it on course to raise AED 3.62 bn (USD 986 mn) from its share sale on the ADX.<\/p>\n

ICYMI: <\/strong>PureHealth is offering a 10% stake (1.11 bn shares) on the ADX, scheduled for trading next Wednesday, 20 December. Each share is being offered at AED 3.26, valuing the transaction at AED 3.62 bn.<\/p>\n

Who\u2019s selling: <\/strong>Alpha Dhabi Health Holding, IHC Healthcare, Q Health, AH Capital, and Al Ataa Investment.<\/p>\n

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

More on PureHealth: <\/strong>Majority owned by ADQ, PureHealth is a Middle East healthcare giant operating the UAE\u2019s largest integrated healthcare network. The company has over 25 hospitals, 100 clinics, diagnostic centers, health ins. products and pharmas under its belt.<\/p>\n

Scaling PureHealth\u2019s IPO: <\/strong>PureHealth\u2019s offering is the second largest in the UAE this year, with ADNOC Gas coming in at first place with its USD 50 bn IPO<\/a>. The IPO\u2019s retail demand matches that of the recent Dubai Taxi IPO, which was oversubscribed more than 130x<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IPO retail offering was oversubscribed 483 times<\/p>\n","protected":false},"author":1,"featured_media":87576,"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":[1560],"tags":[1360,7,1392,149,228],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-abu-dhabi","tag-enterpriseam-uae","tag-ipo","tag-ipo-watch","tag-purehealth","wpautop","entry"],"acf":{"mongo_id":"cb9e6718-5a7c-458a-ad11-0e58ddb69efa","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/1462.jpg","photo_position":"below","homepage_title":"","full_issue_title":"PureHealth\u2019s IPO subscription attracts AED 265 bn in orders","related_issue":[87569],"teaser":"The IPO retail offering was oversubscribed 483 times","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.b33b7f1d-8516-4829-96eb-28080c33b633.mp3"},"yoast_head":"\nPureHealth IPO is red-hot - 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