Riyadh – Mubasher: Specialized Medical Company (SMC) completed its book-building process for institutional investors on the Main Market of the Saudi Exchange (Tadawul), according to a press release.
The Saudi healthcare provider set its final offering price for its initial public offering(IPO) at SAR 25 per share, implying a total offering size of around SAR 1.87 billion ($500 million) and a market capitalization at listing of SAR 6.25 billion ($1.66 billion).
The orders recorded during the institutional book-building surpassed SAR 121.30 billion (over $32.40 billion), representing a coverage of 64.7 times.
Bassam Chahine, CEO of SMC, commented: “This IPO sets the stage for our next phase of expansion as we double our capacity, deepen our presence in high-growth areas like Northern Riyadh, and continue to redefine healthcare delivery in the Kingdom.”
SMC plans to float 75 million ordinary shares, accounting for 30% of its total issued share capital.
The company appointed EFG Hermes KSA and SNB Capital Company as the joint financial advisors, bookrunners, and underwriters.
SNB Capital, SAB Invest, Al Rajhi Capital, BSF Capital, Alinma Investment, Riyad Capital, Al Jazira Capital, Alistithmar Capital, ANB Capital, Derayah Financial Company, Yaqeen Capital, Al Khabeer Capital, Albilad Capital, GIB Capital, and Sahm Capital acted as receiving agents for retail investors.
