Saudi Arabia’s Fakeeh Hospital May Sell 30 Percent Stake in IPO - Bloomberg:
"Dr. Soliman Fakeeh Hospital, owner of one of Saudi Arabia’s largest private hospitals, may sell a 30 percent stake through an initial public offering after the kingdom opens its bourse to foreign investors.
“We’re applying corporate governance standards and we are ready to go for listing whenever we feel the market conditions are appropriate,” Mazen Fakeeh, president and chairman of the group, said in an interview in Dubai yesterday. The hospital would probably sell shares “within the next three years,” he said.
The company, which opened its first hospital in the kingdom in 1978, plans to spend 1 billion dirhams ($272 million) building a 300-bed hospital and a research-focused university in Dubai. The Silicon Oasis-based project will be the company’s first expansion outside its home market. It will be followed by construction of a diabetes care center in Dubai in about two years, Fakeeh said."
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