Pure Health has successfully raised an impressive $986 million (AED 3.62 billion) from its oversubscribed initial public offering (IPO) on the Abu Dhabi Securities Exchange.
Pure Health, the largest healthcare platform in the Middle East, has successfully raised an impressive $986 million (AED 3.62 billion) from its oversubscribed initial public offering (IPO) on the Abu Dhabi Securities Exchange. The company’s fixed offering price of AED 3.26 per ordinary share, representing 10 percent of its total issued share capital, saw exceptional demand, reflecting investor confidence in the healthcare giant.
The IPO witnessed overwhelming interest from both local and regional investors, resulting in multiple oversubscriptions. The total gross demand for the offering exceeded a staggering $72 billion (AED 265 billion), underscoring the market’s strong endorsement of Pure Health’s achievements, management’s execution capability, and its growth vision.
Professional Subscribers displayed significant interest, with a demand of AED 186 billion, reflecting a remarkable oversubscription level of 54 times. Meanwhile, the Retail offering experienced an extraordinary appetite from investors, accumulating demand surpassing AED 78 billion, marking an impressive oversubscription level of 483 times.
Farhan Malik, Founder and Managing Director of PureHealth, commented on the announcement, stating, “There has been overwhelming demand for our IPO. This is a resounding endorsement of the market’s confidence in our achievements, the management’s execution capability, and our vision for growth.”
The IPO is set to generate gross proceeds of AED 3.62 billion for Pure Health, and upon listing, the company’s market capitalization is expected to reach an impressive AED 36.2 billion. Post-listing, assuming full subscription of the offered shares, the Founders will retain a 90 percent stake in the company.
PureHealth stands as the largest integrated healthcare platform in the Middle East, boasting an ecosystem that challenges lifespans and reimagines health spans. With over 25 hospitals, 100 clinics, multiple diagnostic centers, health insurance solutions, pharmacies, health tech, and various investments, the company is a trailblazer in healthcare innovation.
The IPO success signifies the market’s recognition of Pure Health’s transformative role in shaping the future of healthcare. The company’s commitment to continuous innovation and excellence has positioned it as a leading force in the industry. Pure Health’s mission to unlock time for humankind aligns with its groundbreaking innovations and its overarching goal to take Pure Health from Abu Dhabi to the World.
As the healthcare sector continues to evolve globally, Pure Health’s successful IPO not only strengthens its financial position but also highlights its pivotal role in redefining healthcare norms and contributing to the broader health and well-being of communities in the Middle East and beyond. The landmark IPO marks a new chapter for Pure Health, positioning it as a key player in the ever-evolving landscape of healthcare innovation and delivery.