Latham & Watkins Advised Almoosa Health On Successful Saudi IPO

Latham & Watkins Advised Almoosa Health On Successful Saudi IPO

Latham & Watkins has advised Almoosa Health Company, a prominent Saudi healthcare provider, on its initial public offering (IPO) on the main market of the Saudi Exchange.

The IPO, which involved an offer of 13,291,074 ordinary shares representing 30% of Almoosa's total share capital was conducted through both a primary issuance and a secondary sale. The final offer price was set at SAR 127 per share, bringing the total offering value to SAR 1.69 billion.

Cornerstone investors in the IPO included the Company for Cooperative Insurance (Tawuniya) and Alfozan Holding Company, who subscribed to 4.1% and 2.5% of Almoosa’s capital, respectively. Additionally, an employee investment fund acquired 0.3% of the company’s capital for authorized employees wishing to participate in the IPO.

The Latham & Watkins team advising on the transaction was led by Riyadh Partners Salman Al-Sudairi and Najla Al-Gadi, along with Associates Aya AlHumaid and Saba Al-Gosaibi.