Al-Dawaa Medical allocates 10% of IPO shares to retail investors, announces timeline

Logo of Al-Dawaa Medical Services Co.

Al-Dawaa Medical Services Co. (DMSCO) decided to proceed with its initial public offering (IPO) and list on the Saudi Exchange (Tadawul).

The step comes after the Capital Market Authority (CMA) approved the listing request on Dec. 22, 2021.

The company plans to offer 25.5 million shares, representing 30% of its SAR 850 million capital, in the IPO.

DMSCO’s shares will be sold in an IPO to retail and institutional investors, with all shares to be offered to institutional investors with the possibility of allocating 10% of the total IPO shares to retail investors, the company said.

The timeframe of the process has been set, with the book-building process set to begin on Feb. 13 until Feb. 17. The retail investors’ subscription period will run from Feb. 27 until March 1.

IPO Timeline
Item	Details
IPO intention announcement	Jan. 23, 2022
Book-building process	Feb. 13-17, 2022
Retail IPO	Feb. 27 to March 1, 2022
Shares allotment and surplus refund	March 9, 2022

DMSCO’s first pharmacy was established in 1993. It currently owns over 800 pharmacies across the Kingdom, in addition to wholesale and e-sales channels.

Company Profile
Company	Al-Dawaa Medical Services Co. (DMSCO)
Status	Active
Market	Tadawul-Main Market
Core Activities	Medical Services
Capital	SAR 96 mln
Capital after IPO	SAR 850 mln

IPO Highlights
Number of IPO shares	25.5 mln
Issue percentage (%)	30%
Participating categories’ share	25.5 million shares, representing 100% of the IPO shares. It will decrease to 90%, or 22.95 million shares, in case of retail investors IPO
Retail investors’ shares	2.55 million, representing 10% of the IPO shares

Additional Information
Financial advisor, lead manager, main underwriter and book runner	GIP Capital
Co-underwriters	Alinma Investment, ANB Invest
Receiving banks	Saudi National Bank, Saudi British Bank, Al Rajhi Bank, Riyad Bank

For More IPOs

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