White & Case advises Fakeeh Care Group on IPO

Press Release
1 min read

Global law firm White & Case LLP has advised Dr. Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care Group), an integrated healthcare services provider in Saudi Arabia, on its listing on the Main Market of the Saudi Exchange (Tadawul).

It is the largest initial public offering in Saudi Arabia during 2024 to date. The offering attracted US$91 billion in orders with a total amount raised through the listing of around SAR 2.87 billion (approximately US$763 million), and a market capitalization for the Fakeeh Care Group of around SAR 13.3 billion (approximately US$ 3.56 billion).

Fakeeh Care Group was founded in 1978 in Jeddah, and now has four hospitals and five medical centers across Saudi Arabia. It plans to expand to seven hospitals and nine medical centers across the Kingdom.

The White & Case team which advised on the transaction was led by partner Sami Al-Louzi (Dubai) and included counsel Jad Slim (Riyadh) and associates Hamzeh Al Rasheed, Cassy Raby (both Dubai), Khalid Al-Gublan, Husam Azhar and Raghad AlShunaiber (all Riyadh).

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