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Dr. Sulaiman Al Habib Medical's IPO gets regulatory approval

Saudi Arabia's Capital Market Authority approved Dr. Sulaiman Al Habib Medical Group's proposed IPO.

Dr. Sulaiman Al Habib Medical Group is planning to offer 52.5 million shares, or 15% of its share capital, in the transaction.

The capital markets regulator said the company's prospectus will be available within sufficient time before the subscription period begins.

Riyadh, Saudi Arabia-based Dr. Sulaiman Al Habib Medical Services owns and operates hospitals and medical centers.