Riyadh-Mubasher: Middle East Healthcare Co. (MECO) has four wholly-owned hospitals branded 'Saudi German Hospitals' in Jeddah, Riyadh, Madinah and Khamis Mushait, said Chairman Sobhi Batterjee.
He added that his company owns 32.33% of Hail National Health Services Co., and is establishing a new hospital in Hail.
The company earlier obtained the approval of Capital Market Authority (CMA) to issue 27.6 million shares, or 30% of capital, in an initial public offering (IPO) on Saudi Stock Exchange (Tadawul).
The shares to be floated will be partially allocated for institutions, said the market regulator, adding that the IPO will run from 3 February through 9 February 2016 after the book-building process is completed.
Batterjee said the IPO will help the company to continue its expansions and future plans.
