Dr. Soliman Fakeeh Hospital gets CMA nod to offer 49.8M shares on TASI

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The Capital Market Authority (CMA) approved an application submitted by Dr. Soliman Abdulkader Fakeeh Hospital Co. to sell 49.8 million shares, or 21.47% of its capital, in an initial public offering (IPO) on the main market (TASI).

The prospectus will be published ahead of the planned share sale, the market regulator said in a statement today, March 31.

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An investment decision without reading the prospectus’ terms and conditions (T&Cs) carefully or fully reviewing its content may involve high risk.

Therefore, investors should carefully read the T&Cs that include detailed information on the fund, investment strategy and risk factors. They should carefully study them to be able to assess the feasibility of factoring in the associated risks.

If the T&Cs prove difficult to understand, it is recommended to refer to the financial advisor for more information.

The CMA's approval should never be considered as a recommendation to subscribe to the offering. It merely means that the legal requirements as per the Capital Market Law and its Executive Regulations have been met.

The approval is valid for six months from the CMA’s board resolution date. It will be deemed cancelled if the offering and listing of the company's shares are not completed within this period, it added.