Dr. Soliman Fakeeh Hospital (DSFH), owner of one of the largest private hospitals in Saudi Arabia, is bracing to sell a 30 percent stake through an initial public offering after the kingdom opens its exchange to foreigners, Bloomberg reported.
DSFH is planning to build a 300-bed hospital at an investment cost of AED 1 billion and a scientific research-focused university in Dubai, United Arab Emirates.
“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 of the group, said on Sunday.
The hospital will probably sell its shares “within the next three years,” he added, according to
the report.
According to data available on Argaam, the group was incorporated in Jeddah in 1978.
Backed by its sound management team, DSFH has since completed several successful expansion projects.
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