Fintech PR
Abu Dhabi Securities Exchange (ADX) welcomes the listing of Pure Health “PureHealth”, the largest integrated healthcare platform in the Middle East
- PureHealth listing marks ADX’s 6th IPO in 2023 and raised a total of $986 million (AED 3.62 billion).
- The total value of IPOs on ADX in 2023 stood at $5.57 billion
ABU DHABI, UAE, Dec. 20, 2023 /PRNewswire/ — Abu Dhabi Securities Exchange (ADX), one of the fastest growing exchanges in the world, welcomed today the listing of PureHealth, the largest integrated healthcare platform in the Middle East.
PureHealth’s Initial Public Offering (IPO) raised a total of AED 3.62 billion ($986 million) and was oversubscribed by 483 times in the retail tranche and by 54 times in the professional subscribers tranche. This listing also marks the 6th IPO on ADX this year. The total value of IPOs on ADX in 2023 stood at $5.57 billion.
Commenting on the listing, Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said: “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.”
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.
Farhan Malik, Founder and Managing Director of PureHealth, said, ” PureHealth’s listing on ADX has surpassed IPO records on the exchange, making this a significant milestone in our journey. As the largest integrated healthcare platform in the Middle East, we are proud of the role we continue to play in shaping the healthcare sector for Abu Dhabi and beyond. We will continue to transform healthcare, in line with the vision of Abu Dhabi’s leadership, together delivering accessible, world-class healthcare backed by the latest in AI technology and supported by continued public and private sector collaboration. PureHealth is now becoming into a healthcare equity platform where our focus will be on international expansion. This listing will further support our equity growth story by enabling us in taking the organization from Abu Dhabi to the World.”
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 $2.5 billion, ADIB’s world’s first Dollar-denominated sukuk with $500 million value of issuance, the IPO of Presight AI at approximately $496 million, to name a few.
About Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange (ADX) was established on November 15, 2000, by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On March 17, 2020, ADX was converted from a “Public Entity” to a “Public Joint Stock Company PJSC” pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.
ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE “Towards the next 50” agenda. The national plan charts out the UAE’s strategic development scheme which aims to build a sustainable, diversified and high value-added economy that positively contributes to transition to a new global sustainable development paradigm.
For more information, please contact:
ADX
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication
Mobile: +971 (50) 668 9733
Email: ALKhateebA@adx.ae
About PureHealth
By advancing the science of longevity, PureHealth is introducing the healthcare of the future from the UAE to the rest of the world. PureHealth is the largest integrated healthcare platform in the Middle East, with an ecosystem that challenges lifespans and reimagines health spans. With 25+ hospitals, 100+ clinics, multiple diagnostic centers, health insurance solutions, pharmacies, health tech, procurement, investments and more, its groundbreaking innovations are at the forefront of healthcare, as the company is on a mission to unlock time for humankind.
PureHealth’s network of healthcare facilities across Abu Dhabi and the Northern Emirates comprises:
• SEHA – Abu Dhabi Health Services Company – One of the largest healthcare networks of hospitals and clinics in the UAE
• Daman – The National Health Insurance Company, the UAE’s leading health insurer
• The Medical Office – Overseeing Sheikh Khalifa Hospitals and healthcare facilities established under the initiatives of H.H. the President of the UAE
• Rafed – The UAE’s largest healthcare Group Purchasing Organization
• PureLab – Managing and operating the largest network of laboratories in the region
• Abu Dhabi Stem Cells Center – Specialist healthcare center focused on cell therapy and regenerative medicine
• One Health – Sales, service support, and engineering network that provides end-to-end medical solutions
• The Life Corner – Abu Dhabi’s first holistic pharmacy, serving the health and wellness establishment
• Ardent – The fourth largest privately held acute care hospital operator in the USA
Photo – https://mma.prnewswire.com/media/2305655/PureHealth_ListingDay.jpg
