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Saudi hospital group Dr. Soliman Abdul Kader Fakeeh Hospital and its subsidiaries (Fakeeh Care Group), which plans to sell a 21.5% stake in an IPO, has set the price range at between 53 riyals and 57.50 riyals ($29.46) per share, raising up to SAR 2.9 billion ($763 million).
This implies a market capitalisation at listing ranging between SAR 12.3 billion and SAR 13.3 billion ($3.3 -$3.6 billion), lead manager HSBC Saudi Arabia said in a statement on Tadawul on Thursday.
The institutional book building subscription period commences today, and will close on 8 May.
The firm intends to sell 49.8 million shares through the sale of a mix of existing shares and newly issued shares.
The shares will be listed and traded on Tadawul's Main Market following the completion of the IPO.
(Writing by Brinda Darasha; editing by Daniel Luiz)
