Fakeeh Care debuts on TASI today

One of Fakeeh Care’s hospitals

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) will begin trading on the Saudi Exchange (Tadawul) today, June 5 under the symbol 4017 and ISIN Code SA562GSHUOH7, at SAR 57.5 a share.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively. These fluctuation limits will be applied during the first three days of listing. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10% and the static price fluctuation limit will no longer apply.

For More IPOs

This is the fourth listing on Saudi Arabia’s main market in 2024, after MBC Holding Group Ltd. listed on Jan. 8, Middle East Pharmaceutical Industries Co. (Avalon Pharma) on Feb. 27 and Modern Mills Co. on March 27.

Last year, TASI listed seven companies, including, Al Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), Morabaha Marina Financing Co. (MRNA), First Milling Co., Lumi Rental Co., ADES Holding Co., and SAL Saudi Logistics Services Co., besides the listing of Alinma Hospitality REIT Fund.

With this listing, the number of companies listed on TASI reached 217, excluding real estate traded funds, which amount to 18.

The company offered 49.8 million shares, or 21.47% of its post-IPO capital, at SAR 57.5 per share. 90% of offered shares were allocated to participating parties, while the remaining 10% were allocated to retail investors.

The retail coverage reached 14.5x, while the tranche of participating parties was 119x subscribed.

A total of 1.34 million retail investors submitted applications to shares worth about SAR 4.15 billion.

Each retail investor received a minimum of three shares, while the remaining shares will be allocated pro rata, based on the demand size of every subscriber to total shares. The allotment ratio amounted to 1.4075%. 

Company Profile 

Headquartered in Jeddah, Fakeeh Care is a closed joint-stock Saudi company, founded as a sole proprietorship in 1978.

The company's main activities include owning, operating, and managing hospitals, clinics, and other healthcare facilities, as well as medical education and training centers, laboratories, radiology centers, and pharmacies.

Fakeeh Care has three segments: medical services, education, as well as trade and retail business. 

The group, one of the largest private sector healthcare providers in the Kingdom, has been operating in this field for over 45 years. It also enjoys widespread recognition across the Gulf region.

Fakeeh Care has nine branches in various cities within the Kingdom, including Makkah, Jeddah, and NEOM. The company owns three major subsidiaries and 11 minor subsidiaries.