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Shareholders of Jeddah’s International Medical Center to sell shares in an IPO

International Medical Center, Jeddah.
By TRENDS Desk
October 3, 2021 4:30 pm
  • This follows a raft of other Saudi companies announcing a potential listing on the Saudi bourse
  • The firm, which owns 19.25 percent of the hospital, said it will take the necessary measures to “transform it into a public joint-stock company”

Fitaihi Holding Group, which owns part of IMC, has declared that it intends to sell the hospital’s shares in a public offering, following the company’s exit from Dubai’s Amanat.

The firm, which owns 19.25 percent of the hospital, said it will take the necessary measures to “transform it into a public joint-stock company” listed on Tadawul, Saudi Arabia’s main market.

This follows a raft of other Saudi companies announcing a potential listing on the Saudi bourse.
IMC is a polyclinic medical complex with a total capacity of 300 beds.

Fitaihi Holding Group said the move is part of the company’s long-term strategy to increase return on equity of its shareholders.

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