Future Vision Saudi IPO 513% oversubscribed
The initial public offering (IPO) of Saudi healthcare education firm Future Vision for Health Training saw a huge demand from investors, with coverage reaching more than 500% of total offered shares.
The company's offering of 2 million shares, which ran from April 6 to 10, was 513.28% covered, according to Yaqeen Capital, the financial advisor and lead manager for the IPO. The shares were priced at SAR 7 ($1.9) apiece.
The date for listing of Future Vision's shares on the Saudi Stock Exchange (Tadawul) Parallel Market Nomu will be announced after all the required procedures are completed.
The Riyadh-headquartered company provides life support courses to medical professionals. It is accredited by the American Heart Association and the Saudi Heart Association.
Saudi Arabia has been leading the IPO activity in the Middle East and North Africa region, with 17 out of the 25 listings in the last quarter of 2024, according to EY. Five share offerings were on the Saudi Exchange Main Market, recording proceeds of $1.1 billion.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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