Dr. Suleiman Al Habib Group announced the appointment of Saudi Fransi Capital Company as its financial advisor, lead manager, book runner and underwriter on the initial public offering of Dr. Suleiman Al Habib Group. An agreement was signed on Tuesday, 2 Muharram 1435 corresponding to 5th of November 2013. The event was attended by Dr. Suleiman bin AbdulAziz Al Habib, Chairman of Dr. Suleiman Al Habib Group and the group board members, and from Saudi Fransi Capital, Mr. AbdulAziz Rashed AlRashed (Chairman of the board) and Mr. Yasir bin Othman AlRumayyan (CEO).
Dr. Al Habib commented "Dr. Suleiman Al Habib group is a pioneering healthcare service provider active since 1995. The group achieved high growth rates during the past few years along with significant market share. The IPO of the group is a key milestone and an important step in the group's expansion strategy".
The Doctor also noted that "The IPO is a major step and an important part of our strategy that aims to expand the shareholder base and public participation in the company's investments and earnings, thus, continuing its growth and expansion. We are confident that SFC is the right partner in this process, as they have the experience as one of the leading financial advisors in the market. We look forward to realizing the objectives of this agreement, to the benefits of both, and to the Saudi market as a whole".
Mr. AbdulAziz AlRashed, Chairman of the board at Saudi Fransi Capital (SFC), thanked Dr. Al Habib group for their confidence in SFC, and commented "We take great pride in the professional quality of our business as well as our selection as Dr. Suleiman Al Habib Group's financial advisor, lead manager, book runner and underwriter. SFC has faith in the Group's promising future and expected growth".
It is noteworthy to mention that DR. Suleiman Al Habib Group is considered to be one of the largest healthcare service providers in the Kingdom, for both, general and specialized healthcare. The group owns 14 medical facilities in the Kingdom of Saudi Arabia, the UAE, and the Kingdom of Bahrain, along with many other projects in progress. New projects include a hospital in west Riyadh, an integrated hospital in AlKhobar, a multi-specialty hospital in Dubai, and a large medical facility in east Riyadh. The group adopted several local, regional, and international expansion strategies, such as the design, development, and management of medical projects for other parties.
© Press Release 2013
