#Saudi Sulaiman Al-Habib Medical in IPO talks with banks: sources - Reuters

Saudi Sulaiman Al-Habib Medical in IPO talks with banks: sources - Reuters:

Saudi Arabia’s Sulaiman Al Habib Medical Group, one of the biggest hospital operators in the Middle East, is talking to banks about a potential listing in Riyadh that could value the company at $2.5 billion, three sources familiar with the matter said.

The group, which operates hospitals and clinics in Saudi Arabia, the United Arab Emirates and Bahrain, has been in preliminary talks with foreign and local banks for listing and potential advisory roles, the sources said.

The company, which abandoned plans to float in 2014 as oil prices dropped and local market conditions deteriorated, could sell as much as a 30% stake in the IPO, although one source said it could sell less if Saudi regulators permit.