SMC Set to Float 30% Stake on Saudi Main Market
Deal News | May 05, 2025 | Zawya
Specialized Medical Company (SMC), a Saudi Arabian healthcare provider, has announced its plans to offload a 30% stake by floating 75 million shares on the kingdom's main market, TASI. The company has been granted approval by the Capital Market Authority, with the book-building process set to commence on May 11. The final price will be announced on May 26, followed by a retail subscription period from May 28 to 29. With its headquarters in Riyadh, SMC operates two hospitals and is expanding with three new facilities under development. This expansion is projected to significantly enhance its capacity to 1,276 beds and 770 outpatient clinics. The company has shown a robust financial performance, with a revenue CAGR of 14% from 2021 to 2023, reaching SAR 1.37 billion in 2023. Moreover, SMC's net profit margins have significantly increased, growing at a CAGR of 73.6% and moving from 5.3% in 2021 to 14.3% for the first nine months of 2024.
Sectors
- Healthcare
- Financial Markets
Geography
- Saudi Arabia – The company, Specialized Medical Company (SMC), is headquartered in Riyadh, Saudi Arabia, and the activities described, such as the IPO, are taking place in this country.
Industry
- Healthcare – The article focuses on a healthcare provider, SMC, which operates hospitals and reports on their expansion and financial growth within the industry.
- Financial Markets – SMC's decision to float shares and list on the Saudi main market involves financial activities related to stock markets and capital raising.
Financials
- 30% – The percentage of SMC's share capital to be floated on the Saudi main market.
- 75 million shares – The number of shares SMC intends to float.
- SAR 1.37 billion – SMC's reported revenue for the year 2023.
- 14.3% – The net profit margin for SMC for the first nine months of 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Specialized Medical Company (SMC) | Target Company | Company | A healthcare provider based in Riyadh, Saudi Arabia, planning to float 30% of its shares on the kingdom's main market. |
| Capital Market Authority | Regulator | Government | The authority that approved SMC's application to list its shares on the Saudi main market, TASI. |