Dr. Soliman Abdulkader Fakeeh Hospital Company (Fakeeh Care Group), a leading Saudi healthcare provider, is set to begin trading on the Saudi Stock Exchange (Tadawul) on Wednesday, June 5th. This marks a significant milestone for the group, which has established itself as a major player in the Kingdom's healthcare landscape over the past four decades.
The highly anticipated listing will see Fakeeh Care trade under the symbol 4017 and ISIN Code SA562GSHUOH7. Investors should be aware of the specific trading restrictions in place for the first three days. During this initial period, shares will be subject to daily price fluctuation limits of +/- 30% and static price fluctuation limits of +/- 10%. These limitations are designed to ensure market stability during the early stages of trading. From the fourth day onwards, the standard daily fluctuation limit of +/- 10% will apply.
Fakeeh Care's successful initial public offering (IPO) earlier this year reflects strong investor confidence in the company's future prospects. The offering, which included a retail portion that was 14. 5 times covered, saw the company place 49. 8 million shares with the public, representing 21. 47% of its post-IPO capital. This translates to roughly 1. 34 million individual subscribers receiving three shares each. The proceeds from the IPO are expected to fuel Fakeeh Care's growth ambitions, potentially including expansion plans and further investment in its healthcare facilities.
The Tadawul listing is a strategic move for Fakeeh Care, granting the company access to a wider pool of investors and further solidifying its position within the Saudi healthcare sector. With a growing patient base and a reputation for delivering high-quality care, Fakeeh Care is well-positioned to capitalize on the increasing demand for private healthcare services in the region. Analysts suggest that the company's performance on Tadawul will be closely watched, potentially serving as an indicator for the broader healthcare sector in Saudi Arabia.