Arab Finance: EFG Hermes, an investment bank and a subsidiary of EFG Holding, has concluded its advisory role on the $764 million initial public offering (IPO) of Fakeeh Care Group (FCG) in the Saudi Exchange, as per an emailed press release.

EFG Hermes served as joint bookrunner and underwriter for the transaction, facilitating the sale of 30 million new ordinary shares and 19.80 million current ordinary shares of FCG.

With an offer price set at SAR 57.5 per share, FCG attained a market capitalization of SAR 13.3 billion.

Fakeeh Care Group operates four hospitals, including the Soliman Fakeeh Hospital in Jeddah and Riyadh, along with other medical centers and a comprehensive range of healthcare services.

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