Riyadh – Mubasher: Saudi Arabia's Middle East Healthcare Co. (MECO) will likely launch its initial public offering (IPO) at SAR 57-64 a share, sources told Al Jazirah newspaper.
The issue price will be set by the financial advisor and lead manager, and then will be offered to financial institutions in the book building process.
The IPO will run from 3 to 9 February, marking the first public subscription in the kingdom this year.
The healthcare services provider obtained the approval of Capital Market Authority (CMA) to float 27.61 million shares, representing 30% of issued capital.
The company allocated 70% of the total offered shares to institutions.
Samba Capital will act as the underwriter of the IPO.
