Saudi Arabia’s Fakeeh Care to offload 21.4% stake in IPO

Saudi Arabia’s Fakeeh Care to offload 21.4% stake in IPO

Fakeeh Care Group, one of the largest private healthcare groups in Saudi Arabia, plans to offload 21.47 percent of its stake through existing and new shares in an initial public offering (IPO). The group, which owns four hospitals in the kingdom, intends to offer 30 million new shares and 19.8 million existing shares to investors […]Fakeeh Care Group, one of the largest private healthcare groups in Saudi Arabia, plans to offload 21.47 percent of its stake through existing and new shares in an initial public offering (IPO).

The group, which owns four hospitals in the kingdom, intends to offer 30 million new shares and 19.8 million existing shares to investors on the kingdom’s main market (Tasi).

The company said in a statement that the offering will be open to individual and institutional investors, including institutional investors outside the US.

“We have a clear strategy to reinforce our market leading position in Jeddah and expand our presence in key cities such as Riyadh, Makkah, Madinah and Neom,” Dr Mazen Soliman Fakeeh, president of Fakeeh Care Group, said.

The company reported a net profit of SAR232 million ($62 million) in 2023, with revenues growing by a compound annual growth rate of 10.8 percent between 2020 and