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PureHealth Oversubscribed IPO Sets Record on ADX

PureHealth has completed the subscription process for its initial public offering (IPO) on the ADX with tremendous demand.

PureHealth, based in Abu Dhabi, has successfully concluded the subscription process for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) with overwhelming demand from investors in the UAE and the region.

The final offer price for PureHealth’s IPO is Dh3.26 per share, with 1.11 billion shares offered, representing 10 percent of the healthcare platform’s share capital valued at Dh3.62 billion.

Significant Oversubscription:

The IPO witnessed remarkable demand, with total gross demand surpassing Dh265 billion. The professional subscribers’ tranche experienced a 54-fold oversubscription, reaching Dh186 billion, while the retail offering saw an impressive 483-fold oversubscription, accumulating over Dh78 billion in demand.

Leadership’s Perspective:

Farhan Malik, founder and managing director of PureHealth, expressed confidence in the market’s endorsement, highlighting the company’s achievements, execution capabilities, and growth vision. 

The IPO signifies PureHealth’s commitment to transforming healthcare through innovation and excellence.

Trading of PureHealth shares on the ADX is scheduled to commence on December 20, with an estimated market capitalization at listing reaching Dh36.2 billion.

Diverse Healthcare Portfolio:

PureHealth boasts a diverse portfolio, including over 25 hospitals, 100 clinics, diagnostic centers, health insurance solutions, pharmacies, health tech, and procurement, reinforcing its position as the largest healthcare platform in the Middle East.

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