Saudi healthcare provider Naba Alsaha reports 24% profit growth ahead of IPO

RIYADH: Naba Alsaha Medical Services Co. has posted 24 percent profit growth for the first half of 2022, ahead of an initial public offering on Saudi Arabia’s stock market.

This was coupled with a year-on-year revenue jump of 13 percent, CEO Nathir Al-Jishi told Argaam.

The executive noted that Naba Alsaha will open a new pharmacy in Riyadh, adding that it’s studying opening new branches in other neighborhoods.

The company is also looking to expand in non-medical operation segments by providing medical maintenance services as well as cleaning healthcare facilities and complexes, Al-Jishi said.

This comes amid plans to float 1.4 million shares on Saudi Exchange’s parallel market. With an IPO price of SR57 ($15), the subscription period is currently in progress and will end on Aug. 14.

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