Retail investors begin subscription to Tibbiyah's 1 mln shares today

Logo of Arabian International Healthcare Holding Co.

Qualified retail investors will begin today, Feb. 15, subscription to one million shares of Arabian International Healthcare Holding Co. (Tibbiyah), representing 20% of the total offered shares of five million shares, which will be listed on Nomu Parallel Market at SAR 82 each.

The subscription period for retail investors will run for three days until Feb. 17.

Tibbiyah's IPO will be the fourth on Nomu this year, following the IPO of Al-Jouf Mineral Water Bottling Co. in February, Gas Arabian Services on Jan. 23, and Raoom Trading Co. on Jan. 30, 2022.

The Capital Market Authority (CMA) approved, on Dec. 29, 2021, the application received from the company to offer 25% of its capital on Nomu.

The company announced last week it successfully completed the book building process, with 34.8x subscription coverage by qualified non-individual investors.

Qualified investors include the capital market institutions authorized to act on their own account; clients of a licensed capital market institution; the Saudi government, any governmental body, any international entity approved by CMA or the Saudi market, or any other financial market recognized by CMA or the Securities Depository Center (Edaa); companies that are owned by the government, directly or through private portfolio manager; companies and funds established in the GCC countries; investment funds and the natural persons allowed to open investment accounts in the Kingdom and with Edaa. 

Those investors are required to have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months; have net asset value of no less than SAR 5 million; have been working or have for at least 3 years in the financial sector; holds a general certificate in securities dealing, approved by CMA; holds a professional certificate in the field of securities business, approved by an internationally recognized body. 

Qualified investors include any other persons to be determined by CMA.

Company Info:

The company was established as a limited liability company in 2013. Headquartered in Riyadh, it converted into a closed joint stock company in 2021, with its capital currently standing at SAR 200 million.

It provides integrated medical solutions to healthcare services providers in the Saudi health sector through its subsidiaries.

The company's activities include providing integrated medical solutions, including equipment, devices and machinery, as well as the design and implementation of health projects, including the equipment of medical locations to provision of integrated medical solutions.

The company provides support services, medical programs, operation, maintenance and guarantee. 

The company has four subsidiaries, namely Al Faisaliah Medical Systems, Lawazem International Medical, Healthcare Development International and Healthcare Technology.

Al Faisaliah Medical Systems has two affiliates, namely Al Faisaliah Medical Systems UAE and Philips Healthcare Saudi Arabia Ltd.