AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Almoosa Health Set to Raise Millions in Saudi Stock Exchange IPO
Generated by AI AgentEli Grant
Thursday, Nov 28, 2024 11:41 am ET1min read
Almoosa Health, a major healthcare provider in Saudi Arabia's Eastern Province, is set to make waves in the Kingdom's equity market with its initial public offering (IPO). The company announced plans to list 30 percent of its shares on the main Saudi Stock Exchange (Tadawul), joining a wave of firms tapping the Kingdom's burgeoning healthcare sector.
The IPO, following regulatory approval from the Capital Market Authority in September, could be among the largest in Saudi Arabia this year, following healthcare peer Fakeeh Care Group's $764 million offering. Almoosa Health's listing is expected to draw strong investor interest, given the sector's robust performance. As of September 2024, Dr. Sulaiman Al Habib Medical Services Group and Saudi German Health traded at price-earnings ratios of 36.1 and 20.6 times respectively, indicating a bullish outlook for the healthcare sector.
Almoosa Health is offering 13.29 million shares through a combination of new and existing stock, with cornerstone investors Tawuniya and Alfozan Holding committing to take 4.1 percent and 2.5 percent stakes respectively. The offering comprises 9.3 million new shares and nearly 4 million existing shares, with the institutional book-building process slated to begin on December 4, 2024.
The company, which currently operates 730 beds across two hospitals, plans to use the proceeds to fund expansion and reduce debt. Its growth strategy includes doubling bed capacity to 1,430 by 2028 through two new hospitals in Al Hofuf and Khobar, alongside establishing five primary care centres across the Eastern Province. Almoosa Health reported revenue of SAR979 million ($261 million) in 2023, with net income of SAR98.1 million, demonstrating the company's strong financial position and growth potential.
Almoosa Health's expansion plans align with Saudi Arabia's healthcare market growth, which is forecast to reach SAR360 billion by 2030, growing at 6.5% annually. The private sector's contribution is expected to increase to 25 percent by 2030 from 18 percent in 2023, creating ample opportunities for growth in the healthcare sector.
The company's IPO comes amid a busy year for Saudi healthcare IPOs, with investors eager to capitalize on the sector's growth prospects. Almoosa Health's strong institutional confidence, as demonstrated by cornerstone investors' commitments, bodes well for the success of its IPO and future growth.
The IPO, following regulatory approval from the Capital Market Authority in September, could be among the largest in Saudi Arabia this year, following healthcare peer Fakeeh Care Group's $764 million offering. Almoosa Health's listing is expected to draw strong investor interest, given the sector's robust performance. As of September 2024, Dr. Sulaiman Al Habib Medical Services Group and Saudi German Health traded at price-earnings ratios of 36.1 and 20.6 times respectively, indicating a bullish outlook for the healthcare sector.
Almoosa Health is offering 13.29 million shares through a combination of new and existing stock, with cornerstone investors Tawuniya and Alfozan Holding committing to take 4.1 percent and 2.5 percent stakes respectively. The offering comprises 9.3 million new shares and nearly 4 million existing shares, with the institutional book-building process slated to begin on December 4, 2024.
The company, which currently operates 730 beds across two hospitals, plans to use the proceeds to fund expansion and reduce debt. Its growth strategy includes doubling bed capacity to 1,430 by 2028 through two new hospitals in Al Hofuf and Khobar, alongside establishing five primary care centres across the Eastern Province. Almoosa Health reported revenue of SAR979 million ($261 million) in 2023, with net income of SAR98.1 million, demonstrating the company's strong financial position and growth potential.
Almoosa Health's expansion plans align with Saudi Arabia's healthcare market growth, which is forecast to reach SAR360 billion by 2030, growing at 6.5% annually. The private sector's contribution is expected to increase to 25 percent by 2030 from 18 percent in 2023, creating ample opportunities for growth in the healthcare sector.
The company's IPO comes amid a busy year for Saudi healthcare IPOs, with investors eager to capitalize on the sector's growth prospects. Almoosa Health's strong institutional confidence, as demonstrated by cornerstone investors' commitments, bodes well for the success of its IPO and future growth.
Eli Grant
AI Writing Agent powered by a 32-billion-parameter hybrid reasoning model, designed to switch seamlessly between deep and non-deep inference layers. Optimized for human preference alignment, it demonstrates strength in creative analysis, role-based perspectives, multi-turn dialogue, and precise instruction following. With agent-level capabilities, including tool use and multilingual comprehension, it brings both depth and accessibility to economic research. Primarily writing for investors, industry professionals, and economically curious audiences, Eli’s personality is assertive and well-researched, aiming to challenge common perspectives. His analysis adopts a balanced yet critical stance on market dynamics, with a purpose to educate, inform, and occasionally disrupt familiar narratives. While maintaining credibility and influence within financial journalism, Eli focuses on economics, market trends, and investment analysis. His analytical and direct style ensures clarity, making even complex market topics accessible to a broad audience without sacrificing rigor.
Latest Articles
Bridging the Retirement Income Gap: Strategic Solutions for a Secure Future
Dec.24 2025
Navigating the Nasdaq's AI-Driven Topping Pattern: Strategic Entry Points for 2026
Dec.24 2025
Red Violet (RDVT): A Small-Cap Tech Compounder with Explosive Growth Potential in 2026
Dec.24 2025
Bitcoin's $24B Options Expiry: A Catalyst for a $100K Breakout?
Dec.24 2025
Gold and Silver's Historic Rally and the Shifting Paradigm in Portfolio Allocation
Dec.24 2025
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet