NMCC launches initial public offer

03/02/2013 09:19 AST

National Medical Care Co. (NMCC) has signed an agreement with Riyad Capital on Saturday to manage its initial public offering (IPO) of 13.5 million shares, representing 30.1 percent of the company's share capital.

NMCC services range from hospital operations to provision of medical supplies.

The company will float into circulation 6,750,000 (50 percent) of these shares to retail investors on Monday. The IPO, at SR27 per share, will run until Feb.10. The company has already offered another 6,750,000 shares for institutions and it was oversubscribed by more than five times, according to a press statement.


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