Fakeeh Care plans IPO on Tadawul’s Main Market

Fakeeh Care plans IPO on Tadawul’s Main Market

Riyadh – Mubasher: Dr. Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care Group) intends to proceed with the initial public offering (IPO) and listing of 49.80 million ordinary shares on the Saudi Exchange (Tadawul).

Fakeeh Care plans to trade 21.47% of its share capital post-capital increase on the Main Market, according to an official statement.

The IPO is projected to comprise a sale of 19.80 million existing shares that represent 8.53% of the share capital in addition to the issuance of 30 million new shares representing 12.93% of the share capital upon completion of the offering.

HSBC Saudi Arabia acts as the sole financial advisor, joint bookrunner, underwriter, and lead manager for the potential IPO.

On 25 March 2024, Tadawul greenlighted Fakeeh Care’s application for the listing of the IPO shares on the Main Market, while the Capital Market Authority (CMA) gave its nod on 31 March.

The IPO price at which all subscribers will purchase the shares will be determined after the book-building period.

President of Fakeeh Care Group, Dr. Mazen Soliman Fakeeh, said: “Against the backdrop of Saudi Arabia’s Vision 2030 and an expanding market for private healthcare, we are investing in the growth of Fakeeh Care to bring our experience and expertise to