Serrari Group

 Fakeeh Care Group, a prominent private hospital chain in Saudi Arabia, has declared its intention to go public through an Initial Public Offering (IPO). The company, known for its family-owned heritage and strong presence in key cities like Jeddah and Riyadh, plans to offer a 21.47% stake through a combination of new and existing shares.

This move aligns with Riyadh’s efforts to diversify its capital markets and reduce reliance on oil revenue. As part of these reforms, Saudi Arabia has been encouraging family-owned enterprises to embrace IPOs, fostering a more dynamic financial ecosystem.

The IPO announcement from Fakeeh Care Group comes amidst a surge in market activity. Another notable entrant, Miahona, a water and waste water infrastructure company, also unveiled its share sale plans recently.

This uptick in IPOs reflects growing investor interest in the region, supported by robust economic fundamentals and favorable regulatory conditions. Saudi Exchange, the largest stock market in the Arab world, has witnessed a rise in healthcare sector listings over the past few years, signaling optimism for the sector’s future prospects.

As Fakeeh Care Group embarks on its journey into the public domain, industry observers anticipate the impact of this milestone on both the healthcare landscape and the broader Saudi Arabian economy.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

25th April, 2024

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