Nahdi Medical Company, Saudi Arabia’s largest retail pharmacy chain and fastest-growing Omni health platform, is planning an initial public offering (IPO) and listing of its ordinary shares on the Main Market of the Saudi Exchange (Tadawul).
The Offering is expected to comprise a sale of existing shares, resulting in a free float of 30 percent. Tadawul approved the company’s application for the listing on 19 December 2021 and the Capital Market Authority (CMA) approved the offering of 39 million ordinary shares on 29 December 2021. The price at which all subscribers in the Offering will purchase shares will be determined at the end of a book-building period.
Yasser Joharji CEO – Nahdi Medical Company
“Today, Nahdi is the largest pharmacy retail chain in Saudi Arabia operating more than 1,150 stores in 144 cities and towns across the Kingdom and a growing number in the UAE. Despite our market leadership, we go above and beyond retail pharmacy by putting our Guests at the center of all our activities and initiatives. We want our guests to feel that there is one partner who is always thinking about bringing them the full health and wellness ecosystem to their fingertips and doorsteps.”
Nahdi is an innovative, purpose-driven Saudi Arabian retail pharmacy and healthcare company that exists to add beats to the lives of its customers every day. It is supported by two prominent shareholders, Al Nahdi Holding Company and SEDCO Holding.
Nahdi’s pharmacies cater to the needs of over 100 million customers annually and operate across the largest brick & mortar network in Saudi Arabia serving 97 percent of the population across 144 cities and towns. Products include medicine, beauty products, mother and baby care products, and a wide range of wellness and consumer products.
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