Abu Dhabi’s PureHealth Holding made a stellar entry into the market, witnessing a remarkable 76% surge on its first day of trading at the Abu Dhabi Securities Exchange (ADX). The healthcare platform’s shares, which opened at AED3.26, soared to AED5.74, underscoring strong investor confidence.
PureHealth, a key player in COVID-19 screening in the UAE, raised nearly $1 billion in its Initial Public Offering (IPO). It is backed by Abu Dhabi’s sovereign wealth fund ADQ and IHC, chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the national security adviser and brother of UAE President Sheikh Mohammed bin Zayed.
The market capitalization surged from AED36.22 billion at listing to AED63.77 billion on the debut day. Trading activity was robust, with over AED218.7 million and 39.14 million shares changing hands in 6,418 transactions.
PureHealth’s successful debut positions it as a formidable force not only in the UAE but also in the global healthcare landscape. The IPO, offering $1 billion, represents 10% of the total share capital, highlighting the company’s strategic move to deepen capital markets.
Overall, PureHealth’s strong market performance reflects its pivotal role in healthcare and sets a positive trajectory for its growth and influence both regionally and internationally.
