Al-Hokail Academy Gears Up for Nomu Debut with Share Sale Plans

Saudi Arabia's Al-Hokail Academy Specialized Digital Polyclinics Company, a leader in the digital healthcare space, is preparing its entry onto the Nomu-Parallel Market, a secondary market for smaller companies within the Saudi Stock Exchange (Tadawul). To achieve this, the company will offer a portion of its ownership to investors through an initial public offering (IPO).

The details of the IPO were recently announced. Al-Hokail Academy intends to sell 2. 03 million shares, representing a 29% stake in the company. This offering is expected to raise approximately SAR 70 million (USD 18. 6 million). The price range for these shares has been set between SAR 118 (USD 31. 46) and SAR 125 (USD 33. 32) per share.

The final price per share will be determined after a book-building process, which concludes on July 10th, 2024. This process allows institutional investors to express their interest and potential investment amounts at various price points. Analyzing this data helps Al-Hokail Academy establish a fair and market-reflective price for the IPO shares.

Following the book-building phase, the subscription period for qualified individual investors will commence on July 17th and run until July 21st, 2024. This provides an opportunity for retail investors to participate in the IPO and potentially become shareholders in Al-Hokail Academy.

Emirates NBD Capital Saudi Arabia is serving as the financial advisor, lead manager, and bookrunner for the IPO. Their role encompasses guiding Al-Hokail Academy through the entire process, ensuring regulatory compliance, and facilitating investor interest.

Al-Hokail Academy's decision to go public signifies its confidence in its growth trajectory and the potential of the digital healthcare sector in Saudi Arabia. By listing on Nomu, the company gains access to new capital that can be used to expand its services, invest in technology, and potentially acquire other companies. This, in turn, could solidify Al-Hokail Academy's position as a frontrunner in the digital healthcare market and contribute to the overall development of the healthcare industry in the Kingdom.

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