EFG Hermes Completes Advisory on USD 449 Million IPO of Almoosa Healthcare Company on the Saudi Exchange

EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking division successfully completed its advisory on the USD 449 million initial public offering (IPO) of Almoosa Healthcare Company, a leading healthcare service provider in Saudi Arabia, on the Saudi Exchange.

Almoosa Health offered a total of 30% of its total issued share capital through the sale of 9,303,580 new ordinary shares (representing 12.93%) and 3,987,494 current ordinary shares at SAR 127 per share, implying a market capitalization of SAR 5.6 billion (USD 1.5 billion).

The IPO captured the attention of local, regional, and international investors, with the total book covered approximately 103 times. The company began trading today under the ticker ALMOOSA.

Saud Altassan, CEO of EFG Hermes KSA, commented, “We are honored to have played a pivotal role in the successful IPO of Almoosa Specialist Hospital, a key milestone for Saudi Arabia’s thriving healthcare sector. The strong investor demand reflects confidence in the market’s potential and reinforces EFG Hermes’ position as a leader in capital market advisory across the region. We remain dedicated to delivering exceptional outcomes for our clients and fostering growth in dynamic sectors like healthcare.”

Karim Meleka, Co-Head of Investment Banking at EFG Hermes, added, “The success of Almoosa Health’s IPO underscores the market’s strong appetite for high-quality healthcare assets in the Kingdom. We are proud to have played a role in the second Saudi healthcare group IPO this year, and we look forward to building on this momentum in 2025.”

Almoosa Health is one of Saudi Arabia’s leading integrated healthcare providers, earning the trust of millions of families over three decades. Based in the Eastern Province, the Company operates two hospitals with a combined capacity of 730 beds: Al Moosa Specialist Hospital (430 beds) and Al Moosa Rehabilitation Hospital (300 beds), both located in Al Ahsa. Serving one million patients annually, the Company is supported by a team of 326 skilled physicians across diverse specialties. Almoosa Health maintains a robust financial profile, generating SAR 979 million in revenue and SAR 98 million in net income in 2023 and reporting SAR 870 million in revenue and SAR 40 million in net income for the first nine months of 2024, underscoring its strong market presence and sustained profitability.

EFG Hermes acted as a Joint Bookrunner and Underwriter on the transaction.