Soliman Abdul Kader Fakeeh Hospital IPO
Image Credit: Soliman Abdul Kader Fakeeh Hospital

Dubai: Fakeeh Care Group, one of Saudi Arabia's largest healthcare providers, announces that it has set the final offer price at SR57.5 per share, at the top end of the previously announced price range for the IPO.

The final price implies a company market capitalization of SR13.3 billion, or $3.6 billion, at the listing, with the offering raising gross proceeds of SR2.9 billion.

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The institutional book-building process drew total orders of SR341 billion from a diverse mix of investors in Saudi Arabia, the GCC, and around the world, and it was oversubscribed 119 times.

The total offering size is around SR2.9 billion, or $764 million, for 49,800,000 shares.

Dr Mazen Soliman Fakeeh, President of Fakeeh Care, said: "We are delighted with the demand from institutional investors for Fakeeh Care Group's IPO. Looking ahead, we are very excited about the future, leveraging our integrated healthcare model, well-established academic roots and utilization of advanced technologies to play a key role in Saudi Arabia's growth trajectory for decades to come."