Abu Dhabi: The largest integrated healthcare platform in the Middle East, PureHealth, has been listed on the Abu Dhabi Securities Exchange (ADX).
PureHealth’s Initial Public Offering (IPO) raised a total of AED3.62 billion ($986 million) and was oversubscribed by 483 times in the retail tranche and by 54 times in the professional subscriber tranche. This listing also marks the 6th IPO on ADX this year. The total value of IPOs on ADX in 2023 stood at more than AED20 billion ($5.57 billion).
Mr. Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said that, “We warmly welcome PureHealth to the ADX family and look forward to their invaluable contribution towards the healthcare services sector in the UAE and beyond. This year, we have witnessed strong investors’ interest and participation towards the various dynamic listings and initiatives on the ADX platform.”
“We aim to continuously strengthen our market infrastructure and trading offerings and investment services to enable more local and global companies to achieve their capital raising and investment ambitions. At ADX, we are committed to fulfilling Abu Dhabi’s economic strategy and expanding the sustainable growth and development of capital markets in the UAE and wider Middle East region,” Mr. Alnuaimi added.
PureHealth joins a growing group of both local and global healthcare service providers on ADX, demonstrating the exchange’s role as a hub for healthcare investments and providing opportunities for the exchange’s investors to further diversify their portfolios.
The company’s global footprint in the United States and the United Kingdom reflects the growing internationalization of ADX and highlights ADX’s active role in augmenting Abu Dhabi’s economic growth and diversification.
PureHealth IPO rounds out a strong year for ADX. Some notable listings in 2023 include the largest-ever IPO on ADX of ADNOC Gas at AED8 billion ($2.5 billion), ADIB’s world’s first Dollar-denominated sukuk with AED1.83bn ($500 million) value of issuance, the IPO of Presight AI at approximately more than AED1.8 billion ($496 million).