Riyadh - Sharikat Mubasher: The Saudi Public Investment Fund (PIF) is exploring an initial public offer (IPO) of Nupco, the largest medical procurement company in the Kingdom, by 2024.

The company held initial discussions with advisers about the potential share sale, Asharq Bloomberg KSA reported. 

Further details about the IPO are yet to be revealed.

Nubco’s business portfolio includes healthcare procurement, in addition to the re-exporting, warehousing, and distribution of pharmaceuticals, medical equipment, and supplies across the Kingdom.

It aims to elevate the level of health services in the kingdom, improve the efficiency of government spending for the purchase of medical supplies, and increase the effectiveness of supply chains in the public healthcare sector.