Abu Dhabi, [Date], 2024 – PureHealth, the Middle East’s largest healthcare platform, experienced a stellar debut on the Abu Dhabi Securities Exchange (ADX). Shares opened at Dh5.5, a significant 76.07% increase from the IPO price of Dh3.26 per share, closing the day at Dh5.74.

The company offered 1.11 billion shares, representing 10% of its share capital worth Dh3.62 billion. The subscription process saw remarkable demand, with oversubscription levels reaching 54 times for professional subscribers and an astonishing 483 times for retail investors. A day before the market debut, PureHealth announced co-founder Shaista Asif as the new CEO. The leadership transition, coupled with the strong market debut, positions PureHealth as a significant player in the healthcare sector.

Abdulla Salem Alnuaimi, CEO of ADX, welcomed PureHealth to the ADX family, expressing confidence in its contribution to the healthcare services sector in the UAE and beyond.

PureHealth’s global footprint includes operations in the United States and the United Kingdom. Farhan Malik, founder and managing director, highlighted the company’s commitment to transforming healthcare and announced plans for international expansion. The PureHealth IPO rounds out a robust year for ADX, featuring notable listings such as ADNOC Gas, ADIB’s Dollar-denominated sukuk, and the IPO of Presight AI. PureHealth’s successful market debut solidifies its position as a key player in the healthcare sector, with plans for continued transformation and global expansion.