Pure Health PJSC Rings the Bell at ADX in Momentous IPO Ceremony
Abu Dhabi, UAE – December 13, 2023 – Pure Health PJSC ("Pure Health" or the "Company"), the UAE's largest healthcare platform and one of the fastest growing in the MENA region, successfully listed its shares on the Abu Dhabi Securities Exchange (ADX) following the completion of its initial public offering (IPO).
The IPO was oversubscribed by more than 20 times, reflecting strong investor confidence in Pure Health's growth strategy and the UAE's thriving healthcare sector. The offering raised approximately AED 4.1 billion (approximately USD 1.1 billion), with shares priced at AED 2.75 per share.
Pure Health's listing marks a significant milestone for the UAE's capital markets and underscores the growing maturity of the nation's healthcare ecosystem. The Company's shares began trading on ADX under the symbol "PUREH" on December 13, 2023.
The bell-ringing ceremony was attended by senior executives from Pure Health, ADX leadership, and representatives from IBRAHIM .N. PARTNERS, who served as legal counsel to the Company for the IPO transaction.
Ahmed Ibrahim, Managing Partner of IBRAHIM .N. PARTNERS, commented: "We are proud to have advised Pure Health on this landmark IPO, which represents one of the most significant healthcare listings in the region. Pure Health's successful market debut reflects the strong fundamentals of the Company and the robust investor appetite for high-quality healthcare assets in the UAE."
Pure Health operates an integrated healthcare platform spanning hospitals, medical centers, diagnostics, pharmacies, and digital health services across the UAE and internationally. The Company's IPO proceeds will support its ambitious expansion plans, including new facility development, strategic acquisitions, and digital health innovation initiatives.
IBRAHIM .N. PARTNERS' capital markets team, led by Managing Partner Ahmed Ibrahim, provided comprehensive legal advisory services throughout the IPO process, including structuring, regulatory approvals, drafting of offering documents, and coordination with regulators and other transaction parties.
The Pure Health IPO further solidifies IBRAHIM .N. PARTNERS' position as the leading legal advisor for capital markets transactions in the UAE, having advised on numerous landmark offerings including DEWA, ADNOC Drilling, Fertiglobe, ADNOC L&S, and Ajman Bank's recent rights issue.
About Pure Health PJSC
Pure Health PJSC is the UAE's largest healthcare platform, operating a fully integrated ecosystem of healthcare assets including hospitals, medical centers, diagnostics laboratories, pharmacies, and digital health solutions. The Company is committed to delivering high-quality, accessible healthcare services to patients across the UAE and beyond.
About IBRAHIM .N. PARTNERS
IBRAHIM .N. PARTNERS is a leading UAE-based law firm ranked Band 1 by Chambers & Partners. The firm's capital markets practice is widely recognized as the most active in the UAE, having advised on the majority of significant IPOs and equity capital markets transactions in recent years.
Source: IBRAHIM .N. PARTNERS (inp.legal)