Health SMC receives $32bn in bids as IPO price is finalised By Pramod Kumar June 5, 2025, 8:07 AM SMC An SMC hospital in Riyadh. The retail subscription for the IPO will run from June 15 to 16 Specialized Medical Company (SMC), which operates two hospitals in Riyadh, will raise SAR1.9 billion ($506 million) from its listing on the Saudi stock exchange. The final offer price was set at SAR25 per share, the top end of the previously announced initial public offering (IPO) price range. The market capitalisation at listing will stand at SAR6.3 billion. Institutional book-building exceeded SAR121.3 billion, oversubscribed 64.7 times. CEO Bassam Chahine said the IPO sets the stage for the company’s next phase of expansion, as it will double capacity and deepen its presence in high-growth areas, such as Northern Riyadh. SMC issued a second supplementary prospectus after the shareholders decided to revoke previously distributed interim dividends. The institutional book was reopened to existing participants, allowing them to amend or rescind their bids. The retail subscription will commence on June 15 and end on June 16. Saudi-listed The Company for Cooperative Insurance (Tawuniya) has committed to subscribing as a cornerstone investor for 5.9 million shares, representing 2.35 percent of the company’s share capital after the Offering. Saudi IPOs bounce back ‘quicker than expected’ Saudi IPOs gather steam after ‘Liberation Day’ hiatus Saudi coffee chain Barn’s plans IPO on Tadawul The listing on the Saudi main market is expected to take place following regulatory approvals, but no specific date has been announced. This week Saudi budget airline Flynas announced that the retail tranche of its initial public offering (IPO) was oversubscribed four and a half times. The institutional tranche of the Flynas IPO, which ended on May 21, was oversubscribed by almost 100 times. Orders exceeding SAR409 billion were received from local and international investors. For the retail tranche it attracted 666,069 investors and was oversubscribed 350 percent. However, two planned IPOs on Saudi Arabia’s junior stock market were scrapped, but no reasons were given. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
