Investors eagerly subscribed to all available shares in the Riyadh initial public offering of Dr. Soliman Abdul Kader Fakeeh Hospital, setting the stage for what could be Saudi Arabia's largest listing this year. The hospital group and its shareholders aim to raise up to 2.86 billion riyals ($763.4 million) through the IPO, with strong demand witnessed across the price range of 53 riyals to 57.5 riyals per share.

Notably, the Abu Dhabi Investment Authority (ADIA) is participating as a cornerstone investor in a Saudi IPO for the first time, alongside Olayan Saudi Investment Co. The offering includes the sale of 30 million new shares by the company and 19.8 million shares by the founding family, potentially valuing the firm at 13.3 billion riyals at the upper end of the range. The IPO surge reflects a growing pipeline of offerings in Saudi Arabia, with Fakeeh Care Group joining two other companies in announcing their plans to go public recently. The Saudi listings market remains active, with Miahona Co. and Saudi Manpower Solutions Co. also in the process of offering shares to investors.