Arab Finance: EFG Hermes has concluded its advisory on Almoosa Healthcare Company’s $449 million initial public offering (IPO) on the Saudi Exchange, as per an emailed press release.

The offering involved Almoosa Healthcare selling 30% of its issued share capital, consisting of nearly 9.303 million new ordinary shares (12.93%) and 3.987 existing ordinary shares, priced at SAR 127 each. This implies a market capitalization of SAR 5.6 billion ($1.5 billion).

With a book coverage of 103 times, the IPO drew in interest from local, regional, and international investors.

EFG Hermes acted as a joint bookrunner and underwriter for the transaction, reinforcing its role in regional capital markets advisory.

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