Burjeel Holdings to list 11% of share capital on ADX

UAE – Mubasher: Healthcare provider Burjeel Holdings intends to list 11% of its share capital on the main market of the Abu Dhabi Securities Exchange (ADX), the company announced on Monday.

The firm said it plans to offer a total of 200.39 million new shares in addition to 350.33 million existing shares by VPS Healthcare Holdings, which is a selling shareholder.   

Of the offered shares, 10% will be allocated under the first tranche, while the remaining 90% will be offered under the second issue.

Burjeel Holdings pointed out that the subscription period will take place during the period from 30 September to 4 October, whereas the listing will be on 10 October.

The potential offering follows International Holding Company’s (IHC) decision, which was announced on 19 September 2022, to acquire a 15% stake in Burjeel Holdings.

Shamsheer Vayalil, Chairman of Burjeel Holdings, said: “[The] announcement builds on our partnership with IHC which will have a transformative impact for Burjeel Holdings through the addition of new capabilities, capital, and access to new markets.”

Vayalil added: “Our strength is reflected in our strong and profitable financial performance, where we recorded compound annual revenue growth of 18% between 2019-2021 and EBITDA growth of 37%.”

In the first six months (6M) of 2022, the group’s net profits reached AED 152.90 million, while the revenues amounted to AED 1.89 billion.

Mubasher Contribution Time: 26-Sep-2022 12:21 (GMT)
Mubasher Last Update Time: 26-Sep-2022 12:22 (GMT)