Saudi Arabia's Almana General Hospitals in early talks for IPO: report

24/07/2020 Argaam

 

Almana General Hospitals is in early talks with banks for an initial public offering on the Saudi Stock Exchange (Tadawul), Reuters reported, citing two sources with knowledge of the matter.

 

The company has asked advisors to carry out a valuation of the hospital in conjunction with the possible IPO transaction, according to one source.

 

However, Almana is still weighing whether to go ahead with a local offering or consider an international Regulation S offering, said the second source.

 

The company could go public in the fourth quarter, the report noted.

 

Almana, established in 1949 by Shaikh Mohammad Bin Abdullah Almana, has the largest network of hospitals in the Kingdom's Eastern province. It operates 4 hospitals with a total capacity of over 900 beds, according to its website.

 

In 2016, Sanabil Investments, an investment company owned by the Public Investment Fund (PIF), acquired a 20% stake in Almana.

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