Al-Hokail Academy issues prospectus to float 2.03M shares on Nomu

Logo of Al-Hokail Academy Specialized Digital Polyclinics Co.

Al-Hokail Academy Specialized Digital Polyclinics Co. issued today, June 29, its prospectus to float 2.03 million shares on the Nomu-Parallel Market.

The offered shares represent 29% of the company’s capital, which amounts to SAR 70 million.

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In March, the Capital Market Authority (CMA) approved the company's application to float its shares on Nomu.

The offering will run from July 17-21, 2024.

The targeted participants are retail and non-retail qualified investors.

A maximum of 203,000 shares, representing 10% of the total IPO shares, will be allocated to qualified retail investors, while 2.03 million shares, or 100% of the total IPO shares, will be allocated to non-retail qualified investors.

In the event that qualified retail investors subscribe fully to their allocated shares, the lead manager has the right to reduce the number of shares allocated to qualified non-retail investors to a minimum of 1.83 million shares, representing 90% of the total IPO shares.

Al-Hokail Academy is a closed Saudi joint stock company that was established as a branch of a sole proprietorship owned by Amjad Abdulaziz Ibrahim Al-Hokail in 2006 in Dammam.

The company's activities, according to its commercial register, include medical operation of hospitals, specialized medical complexes, day surgery centers, alternative and complementary medicine centers, medical laboratories, medical operation of medical complexes and day surgery centers, alternative and complementary medicine complexes, hospitals, mobile medical clinics, general medical complexes, and home medical services centers.

The company currently operates in the obstetrics and gynecology, dermatology, dentistry, otolaryngology, and ophthalmology fields.