ABU DHABI, UAE, Dec. 21, 2023 /PRNewswire/ — Shares of PureHealth Holding PJSC (”PureHealth” or the “Company”), the largest healthcare platform in the Middle East, rose as much as 84% above the Company’s listing price as it made its debut on the First Market of the Abu Dhabi Securities Exchange (“ADX”) on 20 December 2023.
PureHealth shares surge post listing on ADX
Abu Dhabi-based PureHealth, which is trading under the symbol “PureHealth”, witnessed a jump in its share price to AED 6.0 per share in early trading on the ADX on Wednesday 20 December, giving it a market value of AED 66.6 billion. Shares of the company surged to a high of 84% before they settled around 76% above the listing price at AED 5.74 per share at the close of trading on Wednesday (indicating a market value of AED 63.8 billion).
Farhan Malik, Founder and Managing Director of PureHealth rang the ADX market opening bell to celebrate the listing, in the presence of H.E. Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development, H.E Syed Basar Shueb, CEO and Managing Director of International Holding Company, H.E. Ghannam Al Mazrouei, Secretary-General of the Emirati Talent Competitiveness Council, H.E. Sultan Al Hemeiri Board Member of Alpha Dhabi Holding, Ms. Shaista Asif, Co-founder and Group CEO of PureHealth, and H.E Abdulla Salem Al Nuaimi, Chief Executive Officer of ADX.
Commenting on the historic milestone, Farhan Malik, Founder and Managing Director of PureHealth, said: “Following an overwhelming demand from investors resulting in the staggering levels of oversubscription, the surge in our share price on the debut day re-emphasizes the confidence the market has in the Company’s fundamentals and vision for growth. Our focus will continue to create shareholder value through organic and inorganic growth, where we will work towards making PureHealth an international brand.
PureHealth sold 1.11 billion ordinary shares (“Offer Shares”), equivalent to 10 percent of its total issued share capital through its initial public offering. The Offering witnessed significant demand from investors within the UAE and the region, resulting in multiple oversubscriptions. The total gross demand for the Offering surpassed over AED 265 billion.
PureHealth’s IPO will support the Company’s long-term commitment towards excellence in healthcare, facilitating the development of cutting-edge healthcare solutions, and advancing the science of longevity.
The Founders, namely Alpha Dhabi Holding (ADX:ALPHADHABI), International Holding Company (IHC) Healthcare Holding LLC; and ADQ, an Abu Dhabi-based investment and holding company, will continue to retain 90% stake in the Company.
The receiving banks for the IPO were First Abu Dhabi Bank PJSC, WIO Bank PJSC and Al Maryah Community Bank LLC. The lead placement agent and listing advisor services were provided by International Securities LLC.
About PureHealth
By advancing the science of longevity, PureHealth is introducing the healthcare of the future from the UAE to the rest of the world. PureHealth is the largest integrated healthcare platform in the Middle East, with an ecosystem that challenges lifespans and reimagines health spans. With 25+ hospitals, 100+ clinics, multiple diagnostic centers, health insurance solutions, pharmacies, health tech, procurement, investments and more, its groundbreaking innovations are at the forefront of healthcare, as the company is on a mission to unlock time for humankind.
PureHealth’s network of healthcare facilities across Abu Dhabi and the Northern Emirates comprises:
SEHA – Abu Dhabi Health Services Company – One of the largest healthcare networks of hospitals and clinics in the UAE
Daman – The National Health Insurance Company, the UAE’s leading health insurer
The Medical Office – Overseeing Sheikh Khalifa Hospitals and healthcare facilities established under the initiatives of H.H. the President of the UAE
Rafed – The UAE’s largest healthcare Group Purchasing Organization
PureLab – Managing and operating the largest network of laboratories in the region
Abu Dhabi Stem Cells Center – Specialist healthcare center focused on cell therapy and regenerative medicine
One Health – Sales, service support, and engineering network that provides end-to-end medical solutions
The Life Corner – Abu Dhabi’s first holistic pharmacy, serving the health and wellness establishment
Ardent – The fourth largest privately held acute care hospital operator in the USA
To learn more, please visit www.purehealth.ae
Photo – https://mma.prnewswire.com/media/2306224/PH_ADX.jpg
SOURCE PureHealth Holding PJSC
