From Investing.com:

Avalon Pharma plans to launch an IPO on the Saudi Stock Exchange, offering up to 6 million shares to the public from January 14 to January 18. The company, established in 1998, has a strong portfolio of consumer health brands and generic prescription medicines, extending its influence into the broader MENA region through exports.

The decision to go public follows a wave of successful IPOs on Tadawul, including prominent listings such as MBC Group and Ades Holding. This trend reflects the broader growth in the MENA region’s IPO activity, which saw a 44% increase in the second quarter of 2023, as reported by Imarc Group.

The pharmaceutical sector in Saudi Arabia is on a growth trajectory, with projections indicating that the market could reach a valuation of $10.6 billion by 2028.

Avalon Pharma’s IPO announcement is a continuation of the recent IPO fervor within the region, reflecting the company’s strong position in Saudi Arabia’s healthcare sector and its potential for further growth in the broader MENA region.



Read more: Avalon Pharma sets IPO on Tadawul with up to 6 million shares By Investing.com