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Tibbiyah closes IPO at $22 million

The company also known as Tibbiyah, plans to list on Saudi Arabia’s parallel market, Nomu.
By TRENDS Desk
February 23, 2022 10:57 pm
  • The retail offering was 12.63 times covered after allocating one million shares to individual investors
  • The share offer price was set at Saudi Riyal 82 ($22), Aldukheil Financial Group said in the statement

Saudi-based Arabian International Healthcare Holding 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.

A bourse statement by the IPO financial advisor confirmed this.

The share offer price was set at SR82 ($22), 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.

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