(Bloomberg) -- PureHealth Holding, a health-care platform controlled by one of Abu Dhabi’s wealth funds and its largest conglomerate, plans raise almost $1 billion from an initial public offering in the United Arab Emirates’ capital. 

The firm plans to offer 1.11 billion shares, or a 10%, at 3.26 dirhams a share, according to a statement on Friday. The subscription period starts on Dec. 6 and will end on Dec. 11 for both institutional and retail investors.

As part of the plans, several companies including Abu Dhabi Health Services Co., known as SEHA, and National Health Insurance Co., known as Daman, were merged into PureHealth by ADQ in January 2022. The firm now operates over 25 hospitals, 100 clinics, multiple diagnostic centers, health insurance solutions and pharmacies.

Wealth fund ADQ and International Holding Co., both overseen by Sheikh Tahnoon bin Zayed Al Nahyan, the brother of the UAE’s ruler, have been working on a listing for years. PureHealth is expected to start trading on the Abu Dhabi stock exchange on Dec. 20. 

First Abu Dhabi Bank is lead manager and lead receiving bank on the deal. WIO Bank and Al Maryah Community Bank are receiving banks. International Securities is the lead placement agent.

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