Individual subscription begins for 2.2 million shares of the “Al Mousa Health” offering

Today, Monday, individual investors began subscribing to the offering of Al Mousa Health Company in the main Saudi market, for a period of two days.
Saudi Fransi Capital, in its capacity as manager, had completed preparations for receiving subscription requests from individual investors in the offering of Al-Mousa Health Company in “.
About 2.215 million ordinary shares, representing 20% ​​of the total shares offered for public subscription as a maximum, will be allocated to individual subscribers, as a second phase, with the successful completion of the process of building the order book.

Recipients

Al-Mousa Health Company reported that the receiving entities for the subscription are: Saudi Fransi Capital Company, Sahm Financial Company, Derayah Financial Company, Al-Arabi Financial Company, Al-Ahli Financial Company, Riyadh Capital Company, Al-Bilad Investment Company, Al-Rajhi Capital Company, Al-Khabeer Financial Company, and Al-Jazeera Markets Company. Finance, Yaqeen Financial Company (Yaqeen Capital), Al-Istithmar Securities and Brokerage Company (Al-Istithmar Capital), Al-Inmaa Investment Company, in addition to Al-Awal Investment Company.

Final offering price

Saudi Fransi Capital successfully completed the process of building the order book for the segment of institutions that subscribed to the company’s shares, while the final offering price was set at 127 riyals per share, with coverage amounting to 103 times.
The participating entities subscribed to all of the shares offered, as approximately 13.29 million ordinary shares were allocated to them, representing 100% of the total shares offered for subscription as a first stage.
The Tawuniya Insurance Company and Al-Fozan Holding Company are committed to participate as lead investors with 4.1% and 2.5%, respectively, of the company’s capital after the completion of the offering.

Allocating investor shares

Al-Mousa Health agreed to allocate the shares of the main investors to them as part of the offering process.
Last November, Saudi Fransi Capital, the financial advisor, subscription manager, institutional subscription registry manager, and underwriter, announced the intention of Al-Mousa Health Company to offer its shares for an initial public offering and list its ordinary shares on the main market of the Saudi Tadawul, representing 30% of the capital. Company equity, through the sale of existing shares owned by the selling shareholder.
Al Mousa Health Company obtained Saudi Tadawul’s approval for its request to list its shares on the main market on September 22, 2024, while it obtained approval from the Capital Market Authority for its request to offer 13,291,074 ordinary shares (representing 30% of the company’s shares) for public subscription on September 30, 2024.
Al Mousa Health Group operates a network of 750 patient beds throughout the Eastern Province of the Kingdom.
Al Mousa Health’s revenues achieved growth at a compound annual rate of 18.1% between 2021 and 2023, supported by fundamentals that include the opening and operation of the North Tower of Al Mousa Specialist Hospital, growth in the number of outpatient and inpatient visits, and an increase in revenues per patient.
The company recorded revenues of 979 million riyals for the fiscal year 2023 and 870 million riyals in the first 9 months of 2024.
Al Mousa’s EBIT margin improved over time, increasing from 15.8% in 2022 to 20.0% in 2023.
Al Moosa’s net income grew at a compound annual rate of 25.4% between 2021 and 2023, mainly driven by expansion, laying the foundation for future margin improvement.