CMA approves IPO of 30% of Al-Dawaa Medical

Logo of Al-Dawaa Medical Services Co. (DMSCO)

The Capital Market Authority (CMA) approved the initial public offering (IPO) of 25.5 million shares, representing 30% of Al-Dawaa Medical Services Co. (DMSCO).

The prospectus will be published ahead of the IPO period.

The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the company's financial statements, activities and management, the CMA said in a statement.

A subscription decision without reading the prospectus carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the prospectus, which includes detailed information on the company, the offering and risk factors. If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to making any investment decision, the statement added.

The authority stressed that its approval on the application should never be considered as a recommendation to subscribe in the offering of any specific company. The approval merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

The CMA's approval on the application will be valid for six months from the CMA board resolution date. The approval will be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

Al-Dawaa was established in 1994, with its headquarters located in Al-Khobar, according to data compiled by Argaam.

The company achieved an increase in its pharmacy network, with 800 branches covering the Central, Eastern, Northern and North-Western regions of the Kingdom.

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