Al-Hokail Academy Specialized Digital Polyclinics Company (Alhokail) plans to launch an initial public offering (IPO) on the Saudi stock exchange.

The company will offer 2.03 million ordinary shares, representing 29% of the company’s capital, on Nomu-Parallel Market, Emirates NBD Capital Saudi Arabia, the financial advisor, lead manager and bookrunner on the potential offering, said.

The Saudi Exchange approved the company’s application for the listing in December 2023. The Capital Market Authority approved the IPO application on March 11.

The IPO will run from July 7 to 21, 2024.

The price range has been set between SAR 118 and SAR 125 per share, and the final price will be determined after the book-building period ends on July 10.

(Editing by Seban Scaria seban.scaria@lseg.com)