Riyadh – Mubasher: Saudi healthcare provider Specialized Medical Company (SMC) intends to proceed with an initial public offering (IPO) and the listing of 75 million ordinary shares on the Main Market of the Saudi Exchange (Tadawul).
On 26 March 2025, the Capital Market Authority (CMA) approved the company’s application for registering its share capital and the offering of 30% of its total issued share capital.
The offering price will be determined at the end of the institutional bookbuilding period, according to a press release.
The IPO Shares will be offered for subscription to individual and institutional investors, including institutional investors outside the US.
Meanwhile, the net proceeds from the IPO will be distributed to the selling shareholders, yet the company will not receive any part of the offering proceeds.
CEO of SMC, Bassam Chahine, said: “For over 25 years, SMC has been proud to serve the Riyadh community, building a legacy as one of the capital’s trusted private healthcare providers. Our journey has been defined by clinical excellence, operational excellence, and a commitment to delivering world-class medical care tailored to the needs of our growing population.”
Chahine added: “Today, as Riyadh expands northward and Saudi Arabia’s healthcare sector evolves under Vision 2030, we are entering an exciting new chapter.”
The CEO noted: “Our planned listing on the Main Market of the Saudi Exchange will enable us to accelerate our growth strategy – doubling our capacity with three new hospitals in Northern Riyadh, further strengthening our role in expanding access to high-quality healthcare in the Kingdom.”
From his part, Hani Charani, the CFO of SMC, said: “SMC has demonstrated consistent financial strength, marked by double-digit revenue growth, expanding margins, and prudent capital management. Our ability to grow sustainably while maintaining operational efficiency underscores the resilience of our business model.”
The CFO added: “The IPO will provide us with flexibility to accelerate our strategic agenda, invest in capacity, technology, and innovation, and strengthen our leadership in one of the region’s most dynamic healthcare markets.”
Charani concluded: “We are entering the public markets with ambition, resilience, and clear visibility on long-term growth.”
