National Medical Care Company IPO backed

The Capital Market Authority (CMA) has approve the National Medical Care Company’s plans for an initial public offering (IPO).
The CMA board has issued its resolution approving IPO of 13,500,000 shares representing 30.1 percent of the company’s share capital, according to a statement posted on the Tadawul website.
The offering will comprise 6,750,000 new shares representing 15.05 percent of the company’s capital in addition to 6,750,000 existing shares representing a further 15.05 percent of the company’s capital.
A portion of the offered shares will be allocated to mutual funds and authorized people, according to the statement.
The company’s shares will be offered from Feb.4 Feb. 10, once the book-building process is complete.
The company’s prospectus will be published within sufficient time prior to the start of the subscription period.