Page 184 - AAE PR REPORT - JUNE 2024
P. 184

6/6/24, 9:34 AM                EFG Hermes completes advisory on $764mln IPO of Fakeeh Care Group on the Saudi Exchange


        Fakeeh Care Group offered a total of 21.47% of its total issued share capital through the

        sale of 30,000,000 new ordinary shares (representing 12.93%) and 19,800,000 current

        ordinary shares (representing 8.53%) at SAR 57.5 per share, implying a market
        capitalization of SAR 13.3 billion (USD 3.6 billion).



        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.











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