Capital Market Authority confirmed that Bupa Arabia for Cooperative Insurance Company approved the trading of its newly 16 million shares representing 40% of its capital as of Saturday 12/5/1429AH is corresponding to 17/5/2008.
The company is registered within the insurance sector with the symbol 8210, with an unrestricted price limit for the first day of trading only as per CMA regulations
Bupa Managing Director Tal Nazer, expects Bupa shares to start trading extensively as a unique provider of health insurance that owns a huge stake in this vital sector serving more than half a million clients in KSA alone.
Traders’ expectations of the share value are wide ranging.
Listed under the new Commercial Registration number of 4030178881, Bupa Arabia for Cooperative Health insurance has a paid up capital of SR400m.
It is worth mentioning that Bupa Arabia IPO was over subscribed by 921% in March 2008 which involved over 2.5 million subscribers pumping SR1.4bn.
This outstanding performance clearly had a positive impact on the medical insurance sector in Saudi Arabia in particular and the Gulf Region at large.
Bupa Arabia has earned a number of awards including ‘the best insurance company’ by the Jeddah Chamber of Commerce and Industry, as well as ‘the award of the best work environment’ granted by HRH Prince Faisal Bin Salman Bin Abdulaziz.
Furthermore Bupa is the only Saudi company that has been granted the award for the “Best E-business’ in the Middle East Region.
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