Saudi-based Tibbiyah completes IPO retail offering at $22m

RIYADH: Saudi-based Arabian International Healthcare Holding has concluded its initial public offering’s retail subscription at SR82 million ($22 million).

The retail offering was 12.63 times covered after allocating one million shares to individual investors, according to a bourse statement by the IPO financial advisor.

The share offer price was set at SR82, Aldukheil Financial Group said in the statement.

This comes as the company, better known as Tibbiyah, plans to list on Saudi Arabia’s parallel market, Nomu.

Fully owned by Al Faisaliah Group, Tibbiyah is a leading healthcare provider in Saudi Arabia and the region.