ABU DHABI: The share price of Burjeel Holdings, listed on the Abu Dhabi Securities Exchange, rose 16% to Dh2.31 on its first day of listing. It closed at 2.31 dirhams after rising 20% to 2.40 dirhams. The company’s market capitalization has reached 1200 crore dirhams (2640 crore rupees).
The healthcare company raised 110 crore dirhams (Rs 2420 crore) through an IPO. The stock is listed on the exchange under the name ‘Burjeel’. Malayali Dr. Shamsheer Vyalil is the founder and chairman of Burjeel Holdings. 11% of Burjeel Holdings shares were made available through the initial public offering.