Fakeeh Care sets IPO price range at SAR 53-57.5/shr

Logo of Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care Group)

Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care Group) set the price range for its initial public offering (IPO) between SAR 53 and SAR 57.5 per share, HSBC Saudi Arabia, the financial advisor, bookrunner, underwriter and lead manager, said.

The book-building process for institutional investors will start today, May 2, and continue until 5 pm on May 8, HSBC Saudi Arabia added in a statement to Tadawul.

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Only the qualified categories will participate in the book-building and share allocation process.

The IPO will be priced after the book-building process, followed by the retail offering.

The healthcare services provider will issue 30 million ordinary shares and sell 19.8 million existing shares.

The retail offering will run from May 21-22.