Latest news with #EFGHermes
Tahya Masr
an hour ago
- Business
- Tahya Masr
EFG Hermes Successfully Completes Advisory on USD 500 Million IPO of Specialized Medical Company on the Saudi Exchange
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company (SMC), one of the leading healthcare providers in the Kingdom of Saudi Arabia, on the Main Market of the Saudi Exchange (Tadawul). This marks EFG Hermes' third IPO in the healthcare space in the past 12 months, further reinforcing its position as a trusted advisor across the region's most dynamic sectors. The company began trading today under the ticker 4019. Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share, implying a market capitalization of SAR 6,250 million (USD 1,667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion, representing a coverage of 64.7x. Karim Meleka, Co-Head of Investment Banking at EFG Hermes , said, 'We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region, the offering attracted overwhelming interest from a diverse base of local, regional, and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook.' SMC was founded in 1999 and is one of Riyadh's leading multi-specialty private healthcare providers, with a 25-year track record of delivering high-quality, patient-centric medical care. The Company operates two state-of-the-art hospitals in Riyadh with a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh, where rapid urban development is creating strong demand for healthcare services. With three additional hospitals, it is expected to capture over 25% of private hospital capacity in the area, establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh's new urban hub. Once operational, the new facilities are expected to more than double the Company's current capacity to approximately 1,276 beds and 770 outpatient clinics . EFG Hermes acted as a Joint Financial Advisor, Joint Bookrunner, and Joint Underwriter on the transaction . EFG Hermes has advised on six IPOs across the region year to date, including landmark transactions on Tadawul, the Abu Dhabi Securities Exchange, the Muscat Stock Exchange, and the Egyptian Exchange, underscoring its regional leadership in equity capital markets .
El Fagr
a day ago
- Business
- El Fagr
EFG Hermes Successfully Completes Advisory on USD 500 Million IPO of Specialized Medical Company on the Saudi Exchange
EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company (SMC)، one of the leading healthcare providers in the Kingdom of Saudi Arabia، on the Main Market of the Saudi Exchange (Tadawul). This marks EFG Hermes' third IPO in the healthcare space in the past 12 months، further reinforcing its position as a trusted advisor across the region's most dynamic sectors. The company began trading today under the ticker 4019. Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share، implying a market capitalization of SAR 6،250 million (USD 1،667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion، representing a coverage of 64.7x. Karim Meleka، Co-Head of Investment Banking at EFG Hermes، said، 'We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region، the offering attracted overwhelming interest from a diverse base of local، regional، and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook.' SMC was founded in 1999 and is one of Riyadh's leading multi-specialty private healthcare providers، with a 25-year track record of delivering high-quality، patient-centric medical care. The Company operates two state-of-the-art hospitals in Riyadh with a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh، where rapid urban development is creating strong demand for healthcare services. With three additional hospitals، it is expected to capture over 25% of private hospital capacity in the area، establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh's new urban hub. Once operational، the new facilities are expected to more than double the Company's current capacity to approximately 1،276 beds and 770 outpatient clinics. EFG Hermes acted as a Joint Financial Advisor، Joint Bookrunner، and Joint Underwriter on the transaction. EFG Hermes has advised on six IPOs across the region year to date، including landmark transactions on Tadawul، the Abu Dhabi Securities Exchange، the Muscat Stock Exchange، and the Egyptian Exchange، underscoring its regional leadership in equity capital markets.
Bloomberg
2 days ago
- Business
- Bloomberg
Convenience Store Retailer Trolley Plans Rare IPO in Kuwait
Kuwaiti convenience store Trolley is planning an initial public offering, according to people familiar with the matter, a rare transaction in one of the Gulf's quietest markets for new share sales. EFG Hermes and National Investments Co. are advising on the transaction, which could take place as early as this year, according to the people, who asked not to be named discussing information that isn't public. No final decisions have been made on the listing, and details such as the size and exact timing have yet to be finalized, the people said.
Zawya
2 days ago
- Business
- Zawya
Saudi's SMC struggles on debut: IFR
Specialized Medical Company continued a run of poor debuts on Tadawul with its shares opening below the SR25 issue price at SR24.50 following the company's SR1.88bn (US$501m) IPO. Shares reached the issue price but closed 3.4% lower at SR24.16. Nearly 17.4m shares changed hands, representing 23.2% of the 75m shares sold in the IPO. EFG Hermes and SNB Capital ran the deal. The Tadawul All-Share Index has fallen in recent weeks to lows not seen since the end of 2023 amid wider volatility surrounding the conflict between Iran and Israel and remains down nearly 9% this year despite some positive moves since the announcement of a tentative ceasefire. SMC saw relatively low retail take-up with the 20% tranche only 1.5 times covered. The weak debut follows low-cost carrier Flynas, which closed down 3.4% on its first day, though shares have since rallied past the SR80 issue price to close at SR80.60 on Wednesday. Prior to that United Carton Industries shares closed just below the SR50 issue price and remain well below at SR38 despite some momentum in recent days. The weakness is in stark contrast to the expectation of buyers and sellers in IPOs that shares should hit the limit of a 30% rise on debut – though of late even some that met that initial performance metric have fallen below issue, such as poultry producer Entaj.
Zawya
2 days ago
- Business
- Zawya
EFG Hermes successfully completes advisory on $500mln IPO of Specialized Medical Company on the Saudi Exchange
Riyadh: EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company (SMC), one of the leading healthcare providers in the Kingdom of Saudi Arabia, on the Main Market of the Saudi Exchange (Tadawul). This marks EFG Hermes' third IPO in the healthcare space in the past 12 months, further reinforcing its position as a trusted advisor across the region's most dynamic sectors. The company began trading today under the ticker 4019. Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share, implying a market capitalization of SAR 6,250 million (USD 1,667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion, representing a coverage of 64.7x. Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said, 'We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region, the offering attracted overwhelming interest from a diverse base of local, regional, and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook.' SMC was founded in 1999 and is one of Riyadh's leading multi-specialty private healthcare providers, with a 25-year track record of delivering high-quality, patient-centric medical care. The Company operates two state-of-the-art hospitals in Riyadh with a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh, where rapid urban development is creating strong demand for healthcare services. With three additional hospitals, it is expected to capture over 25% of private hospital capacity in the area, establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh's new urban hub. Once operational, the new facilities are expected to more than double the Company's current capacity to approximately 1,276 beds and 770 outpatient clinics. EFG Hermes acted as a Joint Financial Advisor, Joint Bookrunner, and Joint Underwriter on the transaction. EFG Hermes has advised on six IPOs across the region year to date, including landmark transactions on Tadawul, the Abu Dhabi Securities Exchange, the Muscat Stock Exchange, and the Egyptian Exchange, underscoring its regional leadership in equity capital markets. About EFG Holding EFG Holding (EGX: – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria Learn more about us at For further information, please contact: May El Gammal Group Chief Marketing & Communications Officer of EFG Holding melgammal@ Omar Salama Associate Director of Communications of EFG Holding osalama@ The EFG Holding Public Relations Team PublicRelations@ Note on Forward-Looking Statements In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management's expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding's belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management's control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
