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SMC opens 15M shares at SAR 25 for retail subscribers

SMC opens 15M shares at SAR 25 for retail subscribers

Argaam15-06-2025
Specialized Medical Co. (SMC) launches today, June 15, a retail offering for 15 million shares on the Main Market (TASI) at SAR 25 each, as determined by the book-building process.
The shares allocated to individual subscribers represent 20% of the total shares on offer. The subscription period will continue for two days until June 16.
The retail offer was earlier scheduled for May 28-29, but was postponed.
For More IPOs
In March, the Capital Market Authority (CMA) approved the company's application to list and offer 75 million shares on TASI, representing 30% of its capital.
SMC will allocate 5.87 million shares, representing 2.35% of post-IPO capital, to The Company for Cooperative Insurance (Tawuniya) as a cornerstone investor.
Institutional offering ended last week, with a coverage ratio of 64.7 times.
SMC will be the sixth company to list on TASI this year, following the IPOs of Derayah Financial on Feb. 20, Arabian Company for Agricultural & Industrial Investments (Entaj) on Feb. 26, Umm Al Qura for Development and Construction Co. (Masar) on May 5, United Carton Industries Co. (UCIC) on May 12 and Flynas Co. on May 28.
Tadawul witnessed 14 IPOs last year, following listings by Middle East Pharmaceutical Industries Co. (Avalon Pharma) on Jan. 30, Modern Mills for Food Products Co. on March 5, Miahona Co. and Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care) on May 21, Saudi Manpower Solutions Co. (SMASCO) on May 26, Al Taiseer Group Talco Industrial Co. (TALCO) on May 28, Rasan Information Technology Co. on May 29, Almajed for Oud Co. on Sept. 15, Arabian Mills Co. on Sept. 18, Fourth Milling Co. (MC4) on Oct. 2, Tamkeen Human Resources Co. on Nov. 5, United International Holding Co. on Nov. 19, Almoosa Health Co. on Dec. 23 and Nice One Co. on Dec. 24.
Key background
Founded in 1994, SMC is a closed joint stock company headquartered in Riyadh. It focuses on developing, managing, and operating multi-specialty general hospitals, which provide primary, secondary and tertiary healthcare services.
According to its articles of association, the company's activities include the retail sale of pharmaceutical and medical products, cosmetics, and toiletries in specialized stores, warehousing, and other food service activities, hospitals, and other human health services.
The company's current capital stands at SAR 250 million, divided into 250 million shares with a nominal value of SAR 1 per share.
It runs two hospitals in Riyadh: SMC (1) on King Fahd Road and SMC (2) on King Abdullah Road. Three more hospitals are under development in the capital city.
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