Saudi Arabia's Almana General Hospitals in early talks for IPO-sources - Reuters:
Saudi Arabia’s Almana General Hospitals (AGH) is in early talks with banks about an initial public offering on the kingdom’s Tadawul exchange, two sources with knowledge of the matter told Reuters.
Almana, focused on the kingdom’s eastern province, is part-owned by Sanabil Investments, a commercial investment company owned by the kingdom’s sovereign wealth fund, the Public Investment Fund. Sanabil acquired a 20% stake in Almana in 2016.
Almana has asked advisors to carry out a valuation of the hospital in conjunction with the possible IPO transaction, said one of the sources, who declined to be named as the matter is not public.
The company was speaking to independent investment banks but still weighing whether to go ahead with a local offering or consider an international Regulation S offering, making it open to institutional investors outside the United States, a second source said. The company could go public in the fourth quarter, should they decide to proceed.
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