(Bloomberg) -- Saudi Arabia’s Almoosa unveiled plans for an initial public offering, the latest in a series of health-care listings in the kingdom.
The hospital operator will offer 13.3 million shares, or a 30% stake, according to a statement Wednesday. The subscription period will start Dec. 4 and end on Dec. 24, with final allocations due on Dec. 29.
The firm is working with EFG Hermes, Saudi Fransi Capital and Moelis & Co. on the deal.
Health care is a key pillar of Crown Prince Mohammed bin Salman’s trillion-dollar Vision 2030 plan, which anticipates a growth in the country’s population and a rise in life expectancy. The kingdom has seen a string of listings in the sector, including Middle East Pharmaceutical Co. and Dr Soliman Abdel Kader Fakeeh Hospital Co.
Fakeeh was Riyadh’s largest IPO of the year, but its stock’s up just 4.5% since the IPO. The Saudi wealth fund is planning to list Nupco, the kingdom’s largest medical procurement firm, Bloomberg News has reported.
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Saudi Arabia has been the busiest Middle Eastern market for share sales this year, with firms raising over $16.8 billion, boosted by Saudi Aramco’s jumbo secondary offering in May. Online cosmetics retailer Nice One is also set to list on the local bourse.
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