Saudi Arabia’s Capital Market Authority (CMA) approved an IPO of Dr Sulaiman Al Habib Medical Group. In a statement, the CMA said the company plans to offer 52.5mn shares, representing 15% of its share capital. Dr Sulaiman Al Habib Medical Group is one of the Middle East’s biggest hospital operators, with hospitals and clinics in Saudi Arabia, the UAE and Bahrain. According to a report from news agency Reuters, the CMA has relaxed the traditional IPO requirements to list at least 30% of a company in a bid to encourage more family-owned companies to list. Reports earlier in the summer suggested Dr Sulaiman Al Habib Medical Group had been in talks with foreign and local banks for listing and potential advisory roles.