(Bloomberg) -- Dr. Sulaiman Al Habib Medical Group, one of Saudi Arabia’s largest private health-care operators, plans to start the sale of a 15% stake in an initial public offering next week.

The book-building process for the IPO will start on Feb. 10 and the shares will be priced on Feb. 20, according a document published in the company’s website. The company will offer 52.5 million shares.

The health-care operator didn’t disclose the pricing range for the shares.

Financial advisers:

  • Jadwa Investment and Riyad Capital

Bookrunners:

  • Jadwa Investment, Riyad Capital and EFG-Hermes

2019 financial details:

  • Revenue: 5.03 billion riyals ($1.34 billion)
  • Ebitda: 1.19 billion riyals
  • Profit: 870 million
  • Link to intention to float announcement

The hospital operator’s IPO will be the first to come to the local market after Saudi Aramco raised more than $29 billion in December. That sale relied mainly on domestic investors.

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Dr. Sulaiman Al Habib initially planned to sell shares in 2016, people familiar with the matter said at the time. The company operates at least 14 medical facilities across Saudi Arabia, the United Arab Emirates and Bahrain, according to its website.

To contact the reporter on this story: Matthew Martin in Dubai at mmartin128@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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