Al-Hokail Academy Cancels IPO on Nomu Market
Al Hokail Academy was set to offer a 29% stake in the parallel market Nomu.
Saudi Arabia’s Al-Hokail Academy Specialized Digital Polyclinics Company has decided to cancel its planned initial public offering (IPO) on the Parallel Market (Nomu) of the Saudi Exchange.
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The healthcare service provider announced the cancellation after consulting with its financial advisor, citing the interest of investors and shareholders as the reason for the decision.
Previously, Al Hokail Academy announced that it is set to offer a 29% stake in the parallel market Nomu, according to its prospectus.
Al Hokail boasts services in dental care, cosmetic beauty, day surgery, in-vitro fertilization, and genetic testing. The company has served over 2 million clients through its seven branches.
Nomu is a parallel equity market with more flexible listing requirements, providing an alternative platform for companies to go public. Investment in this market is limited to Qualified Investors.
