Abu Dhabi, UAE–Shares of Burjeel Holdings, which listed on the Abu Dhabi Securities Exchange on Monday, closed the session at AED2.31 ($0.62), up 15.5 percent to its listing price of AED2.
The company raised AED1.1 billion ($299.49 million) after offering a 11 percent stake in an IPO, which was oversubscribed 29 times to over AED32 billion after seeing a significant demand from UAE and outside investors.
At the time of listing, Burjeel Holdings is the largest healthcare company trading on ADX, the company said.
The Group intends to pay cash dividends from 2023 onwards, on the expected basis of a pay-out ratio of 40 to 70 percent of net income, dependent on the required investment for additional growth plans, it added.
Burjeel Holdings Founder and Chairman, Dr. Shamsheer Vayalil Parambath, added, “We’re delighted to see our many years of dedication and commitment culminate in this milestone.”