Alhayat Clinics names Alinma Investment as financial advisor for IPO on Nomu

HMC and Alinma Investment sign advisory services agreement

Alhayat Medical Clinics (HMC) appointed Alinma Investment Co. as financial advisor for its planned initial public offering (IPO) on Nomu Parallel Market.

Mazin Baghdadi, CEO of Alinma Investment Co., expressed delight at the partnership with HMC, which provides high-standard medical and healthcare services.

Alinma Investment is completing the regulatory approvals and obtaining the nod of the Saudi Capital Market Authority (CMA) and Saudi Stock Exchange Co. (Tadawul) to float 20% of HMC’s share capital in the parallel market.

The agreement was signed in the company’s headquarters in Riyadh in the presence of CEO Mazin Baghdadi and Fahad Al-Zaben, CEO of HMC.

HMC, founded 20 years ago, is keen to provide excellent medical services in line with the highest standards. It operates eight main branches and offers home medicine services across the Kingdom, Rajih Al-Ajmi,chairman of HMC, said. 

The healthcare services provider is eying expansions across all provinces to promote the quality of healthcare culture and fulfill the needs of the Saudi society in line with Vision 2030. 

Al-Ajmi expressed his pleasure at the cooperation with Alinma Investment, adding that Alhayat will continue to enter into prime partners in all healthcare fields to provide the best services for its customers. 

The share sale comes as part of HMC’s strategic plans in line with Vision 2030 and its diversified national programs. 

Alinma Investment Co. is the investment arm of Alinma Bank. It is licensed by CMA to participate in all securities-related business activities, including dealing as principal and agent, underwriting, managing, arranging, and advising.

Alinma Investment has been successful in attracting and managing over SAR 50 billion assets, including real estate and private equity funds.