Saudi Arabian regulator Capital Market Authority (CMA) has approved Dr. Soliman Abdul Kader Fakeeh Hospital Company’s request to sell 49.8 million shares in an initial public offering (IPO) on the Saudi main market, TASI.
the shares offered represent 21.47% of the company’s share capital.
The prospectus will be published ahead of the planned share sale, the market regulator said in a statement.
The prospectus includes all relevant information that investors need to know before making an investment decision, including the company’s financial statements, activities and management.
The IPO approval is valid for six months from the CMA’s board resolution date.
The year 2024 is looking promising for the Saudi Stock Market. 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.
The month prior, the shares of Saudi media giant MBC Group had surged 30% during its trading debut on Tadawul.
