Home UAE Abu Dhabi Healthcare provider Burjeel soars in debut of scaled-down IPO Burjeel Holdings rose 20 per cent to almost Dhs2.4 in Abu Dhabi by Bloomberg October 10, 2022 Healthcare provider Burjeel Holdings surged in its trading debut on Monday, highlighting still-robust demand for listings in Middle Eastern countries against a backdrop of negative global sentiment. Burjeel Holdings rose 20 per cent to almost Dhs2.4 ($0.65) in Abu Dhabi. Founded by Shamsheer Vayalil and owned by VPS Healthcare, Burjeel is the first privately-owned company to go public in the UAE this year. It operates hospitals and medical centers in the UAE and Oman and is planning an expansion into Saudi Arabia. Burjeel had offered about 550.7 million shares, representing 11 per cent of the firm. The IPO valued the company at Dhs11.6bn. The firm had priced the deal at the bottom range of Dhs2 a share. The Middle East has been one of the busiest IPO markets in 2022, a year otherwise marked by stock selloffs and recession fears. Elevated oil prices and investor inflows have helped to drive deals in Dubai, Abu Dhabi and Saudi Arabia, and the pipeline remains busy. Tags Burjeel Healthcare IPO Saudi Arabia UAE 0 Comments You might also like Oman’s OQ to offer 49% stake in methanol, ammonia unit Saudi Arabia’s PIF to acquire 54% stake in MBC Group Lulu Retail boosts IPO size to 30% on strong demand Saudi Arabia posts $8bn Q3 deficit as lower oil prices weigh