The Emirati Burjeel Holding Company announced its intention to list 11% of its share capital in the main market of the Abu Dhabi Securities Exchange.
Burjeel Holding clarified that the subscription will open for the initial public offering next Friday, September 30, and close on Tuesday, October 4, 2022.
Burjeel Holding Company intends to list its shares for trading on the Abu Dhabi Securities Exchange as of Monday, 10 October.
Burjeel Holding intends to offer approximately 200.4 million new shares, while VBS Healthcare Holdings BVT Limited intends to offer up to 350.3 million shares of the existing shares in the issued share capital of Burjeel Holdings for listing.
In the event that all shares have been subscribed and allocated and the offer size is not increased, the total offer size is expected to be 11% of the total issued ordinary shares in the capital of Burjeel Holding Company.
10% of the shares offered for the first tranche will be allocated to individual investors, while 90% of the shares offered will be allocated to the second tranche in Burjeel Holding.
The revenues of Burjeel Holding last year amounted to about 3,351 million dirhams, while the revenues of the first six months of 2022 amounted to about 1898.4 million dirhams.
Burjeel Holding intends to pay a cash dividend from 2023 onwards, on a projected basis of 40% to 70% of net income. Depending on the investments required for additional growth plans.
The first interim dividend is expected to be paid in the second half of 2023 based on net income for the first half of 2023.
Burjeel Holding Company is one of the largest providers of private healthcare services in the UAE and Oman, and the group provides a comprehensive healthcare system for patients that includes all economic and social trends.
