Dr. Soliman Abdulkader Fakeeh Hospital Co. (known as Fakeeh Care Group) set the has price range for its initial public offering (IPO) in the Saudi stock exchange at between SAR 53 and SAR 57.5 per share.
The pricing mplies a market capitalisation at listing ranging between SAR 12.3 billion and SAR 13.3 billion ($3.3 -$3.6 billion), lead manager HSBC Saudi Arabia said in a statement on Tadawul.
The book-building process for institutional investors will start on May 2, and continue until 5 pm on May 8, with only the qualified categories being able to participate. The retail offering will run from May 21 to May 22.
In April, the Kingdom’s healthcare services provider announced it had received regulatory approval to sell 49.8 million shares in an IPO, representing 21.47% of the company’s share capital. The healthcare services provider will issue 30 million ordinary shares and sell 19.8 million existing shares.
In February, Saudi Arabian healthcare firm Al-Modawat Specialised Medical Co. announced begun to be listed on the stock market, following on the lead of Saudi Arabia’s home-grown pharmaceutical manufacturing company Avalon Pharma, which listed 30% of its shares on Tadawul.