Riyadh – Mubasher: Dr. Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care Group) set the price range for its initial public offering (IPO) on the Saudi Exchange (Tadawul) between SAR 53 and SAR 57.50 per share.
The offering will imply a market cap ranging between SAR 12.30 billion ($3.30 billion) and SAR 13.30 billion ($3.60 billion), according to a press release.
The institutional book-building subscription period began on 2 May 2024 and will close 5 on 8 May.
Meanwhile, the offering price will be determined at the end of a book-building process.
Fakeeh Care plans to trade 21.47% of its share capital post-capital increase on the Main Market, according to an official statement.
The total offering size is expected to be between SAR 2.60 billion ($704 million) and SAR 2.90 billion ($763 million).
The medical group’s offer on Tadawul includes 49.80 million ordinary shares, representing 21.47% of the issued share capital.
The Capital Market Authority (CMA) greenlighted the company’s IPO on 31 March 2024.
