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.
