Riyadh – Mubasher: The initial public offering of Middle East Healthcare Company (MECO), aka Saudi German Hospitals Group (SGH Group), comes as a culmination to the company’s track record and is aimed to give a boost to its future expansions, said CEO Sobhi Batterjee.
The company’s renowned reputation is backed by solid infrastructure and highly-competitive stance, said the top executive, adding that his company is a pioneer in the medical sector across the kingdom and the GCC region.
Batterjee also said hiring Samba Capital as financial advisor, lead arranger, underwriter and bookrunner was based on its vast expertise in share flotation.
Meanwhile, Eissa bin Mohamed Al-Eissa stressed that Samba Capital would partake in such a vital phase in the company’s track record.
The Capital Market Authority (CMA) announced Wednesday approving the initial public offering of 27.6 million shares, or 30% of MECO 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 book building process is completed.
The issue prospectus will be announced before subscription starts.
