Page 191 - AAE PR REPORT - JUNE 2024
P. 191

6/6/24, 9:34 AM             EFG Hermes Completes Advisory on USD 764 Million IPO of Fakeeh Care Group on the Saudi Exchange
        The IPO captured the attention of local, regional, and international investors, with the total
        book covered approximately 119 times. The company began trading today under the ticker
        [FCG].



        Karim Meleka, Co-Head of Investment Banking at EFG Hermes, commented, “We are
        delighted  and  proud  of  our  role  in  the  successful  IPO  of  Fakeeh  Care  Group.  This
        transaction adds onto our successful track record of supporting healthcare advancements in

        the Kingdom of Saudi Arabia (KSA), following our involvement in Habib Medical Group, Al
        Meswak, and now Fakeeh Care Group”. He added: “In facilitating the IPO of Fakeeh Care
        Group, EFG Hermes has once again demonstrated its unwavering commitment to fostering
        transformative investment opportunities within the MENA region. The resounding success of

        Fakeeh Care Group's IPO underscores the resonance of its value proposition among both
        regional  and  international  investors,  along  with  the  robust  appetite  for  investment
        opportunities within Saudi Arabia's burgeoning healthcare sector. This transaction represents
        yet another milestone in our continued commitment to driving strategic investment initiatives

        that redefine the contours of the regional investment landscape.”


        Fakeeh  Care  Group  is  one  of  Saudi Arabia’s  premier  integrated  providers  of  high-quality
        healthcare, trusted by millions of families for more than four decades. FCG offers 835 beds

        across  four  hospitals  –  Dr.  Soliman  Fakeeh  Hospital  (“DSFH”)  Jeddah,  DSFH  Riyadh,
        NEOM Hospital through an operating model and the soon to be completed DSFH Madinah –
        with around 900 doctors. The Group boasts five medical centers (including NEOM Advanced

        Medical Center through an operating model) with around 220 doctors, complemented by a
        range  of  integrated  healthcare  services  to  meet  everyday  health  needs.  Its  operational
        excellence  is  driven  by  its  highly  integrated  hub-and-spoke  healthcare  model,  a  structure
        that maximizes efficiency while being adaptable.



        This transaction is the latest in a series of landmark deals the Firm has advised on in the
        GCC region over the years, including eight IPOs in 2023 alone. Most recently, it acted as the

        joint bookrunner on Spinney’s IPO on the Dubai Financial Market (DFM), as well as Parkin’s
        IPO on the DFM – the most oversubscribed IPO on the DFM to date. The Firm also advised
        on the IPO of Dubai Taxi Company on the DFM and OQ Gas Networks on the Muscat Stock
        Exchange (MSX), the largest Omani IPO in over two decades. It also advised on the IPO of

        ADES Holding Company on the Saudi Exchange, as well as the successful IPOs of ADNOC
        L&S and ADNOC Gas Plc on the Abu Dhabi Securities Exchange (ADX); IPO of Lumi Rental
        Company  on  the  Saudi  Exchange;  Abraj  Energy  Services  on  the  MSX;  and  Al  Ansari
        Financial Services PJSC on the Dubai Financial Market (DFM).









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