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Saudi hospital group Dr. Soliman Abdul Kader Fakeeh Hospital and its subsidiaries (Fakeeh Care Group), which plans to sell a 21.5% stake in an IPO, has set the final price at the top end of the previously indicated range at 57.50 riyals ($29.46) per share.
The final offer price implies a market capitalization at listing of SAR 13.3 billion ($3.6 billion), and gross proceeds of SAR 2.9 billion ($764 million) for the company and the selling shareholders, a statement on Tuesday said.
The institutional book building process drew total orders of SAR 341 billion ($90.9 billion) from a diverse mix of investors from Saudi Arabia, the GCC and around the world, it added.
The firm is selling 49.8 million shares via a mix of existing shares and newly issued shares.
Olayan Saudi Investment Co. and Abu Dhabi Investment Authority (ADIA) have committed to subscribe to 3 million shares in total at the offer price.
The shares will be listed and traded on Tadawul's Main Market following the completion of the IPO.
HSBC Holdings Plc is acting as sole financial adviser and joint bookrunner along with anb capital and EFG Hermes.
(Writing by Brinda Darasha; editing by Seban Scaria)
