Fakeeh Care IPO 119x covered, final price set at SAR 57.50/share

HSBC Saudi Arabia, the sole financial advisor, joint bookrunner, underwriter, and lead manager on the potential IPO of Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care Group), set the final offer price at SAR 57.50 per share.

The IPO was 119x covered, with the final IPO price set at SAR 57.50 a share, according to a filing to Tadawul.

The medical services provider floated 49.8 million shares, or 21.47% of post-increase capital, on the Saudi Exchange (Tadawul), according to data available with Argaam.

The retail IPO will run on May 21-22, as 4.98 million shares, or 10% of the total offer, will be allocated to individuals.