SMC Hospitals Plans IPO with Top Banks' Assistance
Deal News | Feb 20, 2025 | Zawya
SMC Hospitals, a leading healthcare group in Saudi Arabia, is preparing for an initial public offering (IPO). The company has enlisted the services of banks including EFG Hermes and SNB Capital to facilitate the offering, according to sources. The hospital operator plans to announce the IPO before the summer, leveraging the booming IPO environment in the Gulf region. This move aligns with Saudi Arabia's Vision 2030, focusing on diversifying the economy and expanding the healthcare sector. The country's stock market is poised for a significant number of listings, with 15 IPO applications already approved this year.
Sectors
- Healthcare
- Financial Services
Geography
- Saudi Arabia – The activities primarily pertain to Saudi Arabia, where SMC Hospitals operates and plans to list on the local bourse.
- Gulf Cooperation Council (GCC) – The Gulf region, including Saudi Arabia, is experiencing a surge in IPOs, making it significant in the context of this article.
Industry
- Healthcare – SMC Hospitals operates in the healthcare sector, managing multiple hospitals in Saudi Arabia.
- Financial Services – The banks involved in facilitating the IPO, such as EFG Hermes and SNB Capital, belong to the financial services sector.
Financials
- $760 million – The amount raised by Fakeeh Care Group in a previous IPO, mentioned for context on the market environment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SMC Hospitals | Target Company | Companies | A Saudi Arabian healthcare group preparing for an IPO with operations in Riyadh. |
| EFG Hermes | Financial Advisor | Companies | One of the banks hired by SMC Hospitals to work on the IPO. |
| SNB Capital | Financial Advisor | Companies | Another bank hired by SMC Hospitals to assist with the IPO. |
| Federico Maccioni | Reporter | People | The journalist reporting the information in the article. |
| Mohammed Al-Rumaih | Commentator | People | CEO of Saudi Arabia's stock exchange commenting on the record year for listings. |