Linklaters advises Burjeel Holdings on its IPO on the ADX

Linklaters advised Burjeel Holdings on its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The IPO represents the first listing by a privately owned company in the United Arab Emirates (UAE) this year.

Burjeel Holdings is a leading private healthcare service provider operating an integrated network of hospitals and medical centres in the UAE and Oman.

The offering received strong demand with an oversubscription level of 29 times from institutional and retail investors, raising over AED 1.1bn (approx. US$300m) for the company and its shareholder, VPS Healthcare Holdings. Upon listing, Burjeel Holdings is expected to become one of the largest private healthcare companies on ADX by market capitalisation.

The Linklaters cross-jurisdictional team was led by London-based capital markets partner and co-head of the firm’s equities practice Jason Manketo, with support from Dubai-based managing associate Patrick Sutton-Mattocks and London-based US associate Alexandra Kovaliouk.

Capital markets partner Jason Manketo, commented, “We are pleased to have assisted Burjeel Holdings in further strengthening its position as a market leader in the healthcare sector. As the demand for quality healthcare and clinical excellence continues to be a key focus in the MENA region, we look forward to seeing further milestone developments for the company in the future.”