IPO
Burjeel Holdings successfully listed on Abu Dhabi Securities Exchange (ADX), beginning its first day of trading on October 10th 2022 under the ticker symbol 'Burjeel'. The shares offered in the IPO represented approximately 11% of the total issued ordinary shares in the capital of the company.
IPO
Timeline
30 September 2022
Offering commencement date
5 October 2022
Announcement of Final Offer Price
8 October 2022
SMS Confirmation to all successful subscribers, commencement of refunds
4 October 2022
Closing Date of First and Second Tranches
No Later Than 6 October 2022
Allocation of First Tranche
10 October 2022
Expected date of Listing the Shares on ADX
Investment
Highlights
- The Group focuses on attracting, training and developing the best and most innovative consultants to drive medical advancements in the MENA region, through a unique culture of “physician-led” practices.
- The Group’s strong clinical team has been responsible for the Group’s growth to date and remains committed to delivering quality and clinical excellence going forward.
- The Group has been developing highly specialised, complex and personalised services in oncology, orthopaedics and spine, woman care and paediatrics.
- The UAE and Oman healthcare markets benefit from strong fundamentals and growth drivers which support the Group’s expansion.
- The UAE and Oman increased their healthcare expenditure from U.S.$12.4 billion and U.S.$2.9 billion, respectively, in 2016, to U.S.$18.0 billion and U.S.$3.5 billion, respectively, in 2021. They are expected to further expand healthcare investments to U.S.$34.0 billion and U.S.$5.3 billion, respectively, by 2031.
- The Group has a private market leading position in the UAE in terms of volumes, with a total bed capacity of 1,660 beds as at 30 June 2022 and 4.8 million out-patients and 104,965 in-patients treated across its hospital network in 2021, representing a UAE private market in-patient market share as at 30 June 2021 of approximately 17 per cent.
- The Group’s integrated healthcare network serves patients in Abu Dhabi, Al Ain, Dubai & the Northern Emirates in the UAE, as well as Oman, across all healthcare segments and covers the full socio-economic spectrum through the Group’s four leading brands.
- The Group has a strong and well-invested medical services portfolio that is built around an integrated “hub and spoke” feeder network across primary, secondary and tertiary segments.
- The Group has a track record of strong financial performance and consistent growth that has been driven by its ramp-up of assets launched in recent years and supported by its focus on treating a higher-end patient mix and cost optimisation.
- For the years ended 31 December 2019, 2020 and 2021, the Group’s revenue was AED 2,420.5 million, AED 2,605.2 million and AED 3,351.0 million, respectively, representing a CAGR of 17.7 per cent.
- For the years ended 31 December 2019, 2020 and 2021, the Group’s EBITDA was AED 417.9 million, AED 470.2 million and AED 779.1 million, respectively, representing a CAGR of 36.5 per cent.
