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6/6/24, 9:34 AM EFG Hermes advises on $764m IPO of Fakeeh Care Group on Saudi Exchange - Dailynewsegypt
in a market capitalization of SAR 13.3bn ($3.6bn). The IPO garnered signi cant interest
from local, regional, and international investors, with the total book covered
approximately 119 times. Trading of FCG shares commenced under the ticker “FCG” on
Wednesday.
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 to 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 rede ne 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 families for more than four decades. FCG o ers 835 beds across
four hospitals – 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 ve medical centres (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 e iciency 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
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