Fakeeh Care Group to Launch IPO on Saudi Exchange
Fakeeh Care Group operates four hospitals.
Dr Soliman Abdel Kader Fakeeh Hospital Company, known as Fakeeh Care Group (FCG), a healthcare provider in Saudi Arabia, has announced plans to initiate an initial public offering (IPO) and list its ordinary shares on the Main Market of the Saudi Exchange (Tadawul).[1]
Following approval from the Capital Market Authority (CMA) on March 31st, Fakeeh Care Group is set to offer 49.8 million ordinary shares, comprising 30 million new shares and 19.8 million current shares, representing 21.47% of the company's share capital. The offering price will be determined through a book-building process.
Additionally, the company has earmarked 2 million treasury shares, equivalent to 0.86% of its post-increase capital, for a new employee share program aimed at incentivizing key employees.
Lenders such as Alrajhi Bank, Saudi National Bank, Arab National Bank, SAB, Alinma Bank, and Bank Aljazira have been appointed as receiving agents for retail investors.
Fakeeh Care Group operates four hospitals with approximately 900 doctors, 835 beds, 374 examination rooms, nearly 190 ICU beds, and about 40 operating theatres. Additionally, it runs five medical centers and houses the Fakeeh College for Medical Sciences in Jeddah, with over 1,800 students enrolled as of September 2023.
