{"id":219254,"date":"2022-02-14T15:00:06","date_gmt":"2022-02-14T15:00:06","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=219254"},"modified":"2022-02-14T14:34:43","modified_gmt":"2022-02-14T14:34:43","slug":"al-dawaa","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/al-dawaa\/","title":{"rendered":"Saudi Al-Dawaa intends to offer 30% of its shares for public subscription"},"content":{"rendered":"

Riyadh, (Business News Report)|| <\/strong>The Saudi Arabian Al-Dawaa Medical Services (DMSCO) intends to offer 30% of its shares for public subscription on the Saudi Stock Exchange<\/a> (Tadawul).<\/p>\n

Al-Dawaa aims to raise $500 million from the subscription and is considered one of the largest retail drug companies in Saudi Arabia.<\/p>\n

The company set the price range for the initial public offering between 65 and 73 Saudi riyals per share, according to the company\u2019s disclosure on Tadawul.<\/p>\n

GIB Capital is responsible for managing the institutional subscription registry for the public offering of 25.5 million ordinary shares of the company’s shares, representing 30% of its capital.<\/p>\n

The minimum number of shares that can be subscribed to for each of the participating categories is 100,000 shares, while the maximum is 4,249,999 shares.<\/p>\n

The price of the offering for public subscription will be determined after the completion of the book-building process, which ends on Thursday. It will be followed by the subscription process for the retail segment, as 2,550,000 shares will be offered, representing 10% of the total shares offered to individual subscribers.<\/p>\n

The IPO of Al-Dawaa is a new step towards the inclusion of more family businesses in the Kingdom.<\/p>\n

Huge demand<\/h3>\n

The IPOs of shares in the Saudi Stock Exchange witnessed a huge demand from investors last year. Most of the initial offerings were priced at the highest price ranges. Yet, some shares rose above this range at the beginning of their trading.<\/p>\n

In addition, Nahdi Medical Company, the largest retail drug chain in Saudi Arabia, plans to obtain about $1.3 billion through an initial public offering in the next few months, informed sources revealed to Bloomberg.<\/p>\n

Al-Dawaa Medical Services had signed an agreement with three companies from Finland, Spain and China, in the field of medical manufacturing, technical solutions, and health care, according to the Saudi Press Agency.<\/p>\n

The agreement aims to localize the medical device industry. The manufacturing process is scheduled to take place at the Al-Dawaa Company for Medical Services factory in Sudair City for Industry and Businesses.<\/p>\n

The agreement was signed as part of the Saudi Industry Pavilion’s participation in the Arab Health Exhibition 2022, which is being held in Dubai.<\/p>\n","protected":false},"excerpt":{"rendered":"

Riyadh, (Business News Report)|| The Saudi Arabian Al-Dawaa Medical Services (DMSCO) intends to offer 30% of its shares for public subscription on the Saudi Stock Exchange (Tadawul). Al-Dawaa aims to raise $500 million from the subscription and is considered one of the largest retail drug companies in Saudi Arabia. The company set the price range […]<\/p>\n","protected":false},"author":4,"featured_media":219255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[7573,278,7572],"class_list":["post-219254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-al-dawaa","tag-featured","tag-saudi-arbia"],"yoast_head":"\nSaudi Al-Dawaa intends to offer 30% of its shares for public subscription<\/title>\n<meta name=\"description\" content=\"BNReport| The Saudi Arabian Al-Dawaa Medical Services (DMSCO) intends to offer 30% of its shares for public subscription on Tadawul.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/al-dawaa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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