Biggest Saudi IPO of the Year Sells Out in Under an Hour
- Fakeeh, shareholders are seeking to raise up to $763.4 million
- Abu Dhabi’s ADIA will be a cornerstone investor in the IPO
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Investors snapped up all shares on offer in a Saudi hospital group shortly after books opened on the deal that’s shaping up to be the largest listing in the kingdom so far this year.
Dr. Soliman Abdul Kader Fakeeh Hospital and its shareholders are seeking to raise as much as 2.86 billion riyals ($763.4 million) in the Riyadh initial public offering. Books were covered throughout the price range of 53 riyals to 57.5 riyals per share, according to terms of the deal seen by Bloomberg News.