Riyadh, Saudi Arabia: Dr. Sulaiman Al Habib Medical Group (“HMG”, or the “Group”), Saudi Arabia’s largest private medical services provider, will be included as a constituent of the MSCI Global Standard Index, effective 30 November 2020, according to the MSCI semi-annual Index Review.
MSCI is the world’s provider of research-based indexes that cover securities from different countries and across cap sizes. The indices are a benchmark in global equity markets and are constituent stocks are selected based on criteria including market capitalisation, liquidity, free float and performance.
Mr. Nasser Al Haqbani, Chief Executive Officer at HMG, commented:
“The inclusion of HMG in the MSCI Global Standard Index is a reflection of both the resonance and impact of our post-IPO growth strategy, which we have delivered in spite of market headwinds. Our business has proved highly agile in addressing the challenges of the global pandemic, and we are very pleased to have become a constituent of the globally recognised benchmark.
We are proud to be among Saudi listed companies included in the MSCI Global Standard Index and the opportunity this provides to showcase HMG’s story and the Saudi Healthcare sector to the world. This inclusion comes in less than nine months since listing on Tadawul, which we consider to be a clear reflection of our policy of Sustainability and transparency, keeping the investment community fully appraised of development within the Group.”
HMG’s inclusion join the MSCI Global Standard Index is a reflection of the market’s confidence in the Kingdom’s 2030 Vision and the goals it sets out for the healthcare sector, as well as in the Group’s strategy and outlook. Being included in the index bolsters the profile and visibility of HMG’s growth to international investors, supports liquidity, and broadens shareholder base.
HMG’s growth strategy is focused on growing the scale of the Group’s facilities including the South West Jeddah Hospital, which began construction in 2019 and is expected to start operations at the end of 2023; the North Riyadh hospital which began construction in 2019 and will start operations at the end of 2023; and the North Jeddah Hospital for which construction is scheduled to begin in 2021, with a projected completion date at the end of 2024. The latest addition to HMG’s project pipeline is the Takhassusi Pediatric & Maternity Hospital in Riyadh, which has completed its design phase and is expected to be operational by 2024.
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© Press Release 2020
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