Gulf Islamic Investment allocates SAR 2 bln for Saudi expansion, plans IPO of Al Meswak in 3 years

Logo of Gulf Islamic Investment Co.

UAE-based Gulf Islamic Investment Co. (GII) allocated over SAR 2 billion for investment in emerging industries, as well as logistics and financial services in Saudi Arabia, Mohammed Al Hassan Co-CEO and Co-Founder told Argaam in a phone call.

Al Meswak Dental Clinics may list shares in the Saudi market within two or three years, he said. Al Meswak is a strong brand with high growth potentials in the Kingdom and the GCC region.

On the other hand, Al Hassan affirmed that the company will reveal its acquisition of a regional digital bank without giving more details.

On May 17, Jadwa Investment and GII announced that Jadwa Healthcare Opportunities Fund 3, which is managed by Jadwa, sold its majority stake in Al Meswak Dental Clinics to GII and Jadwa Healthcare Opportunities Fund 5, a new Jadwa-managed fund, Argaam reported.

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