EFG Hermes Leads Successful IPO for Fakeeh Care Group

EFG Hermes, a renowned investment bank in the MENA region, recently played a key role in the successful completion of the $764m initial public offering (IPO) of Fakeeh Care Group (FCG) on the Saudi Exchange. Acting as a joint bookrunner and underwriter, EFG Hermes significantly contributed to this important transaction.

FCG offered 49,800,000 ordinary shares at SAR 57.5 per share, leading to a market capitalization of SAR 13.3bn ($3.6bn). The IPO garnered substantial interest from investors, oversubscribed by about 119 times. Trading of FCG shares commenced under the ticker 'FCG' on Wednesday.

Fakeeh Care Group, a leading healthcare provider in Saudi Arabia, has been delivering top-notch healthcare services for over four decades. With four hospitals and five medical centers, FCG offers a wide array of healthcare services to cater to its patients' needs. The group's success is attributed to its integrated healthcare model focusing on efficiency and adaptability.

This IPO represents another successful investment endeavor by EFG Hermes in the MENA region, underscoring the firm's dedication to driving strategic investments. The strong response to FCG's IPO underscores the attractiveness of the healthcare sector in Saudi Arabia to both local and international investors.

Over the years, EFG Hermes has been involved in numerous significant deals in the GCC region, including multiple IPOs. The firm's impressive track record encompasses advising on various IPOs on different stock exchanges, showcasing its expertise in facilitating transformative investment opportunities.

The successful completion of Fakeeh Care Group's IPO with the support of EFG Hermes highlights the growing interest in healthcare investments in Saudi Arabia. This milestone not only signifies the strength of the healthcare sector but also showcases the expertise of EFG Hermes in driving strategic investments in the MENA region.