Specialized Medical Company (SMC) made its debut on the Saudi Exchange (Tadawul) following a highly successful initial public offering that raised SAR1.88 billion ($500 million).
The offering attracted exceptional investor interest, signaling strong market confidence in Saudi Arabia’s healthcare sector.
The IPO included 75 million ordinary shares, priced at SAR25 per share, the top of the proposed range. This values SMC at a market capitalization of SAR6.25 billion upon listing.
Institutional demand was particularly strong, with that tranche oversubscribed by 65x, attracting orders totaling over SAR121.3 billion ($32.3 billion). Retail investors, allocated 20% of the offering, contributed SAR542.2 million, resulting in 1.45x oversubscription.
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“Today marks a major milestone in SMC’s journey. Our listing reflects investor confidence in our growth strategy and our role in delivering high-quality, digitally enabled healthcare across the Kingdom,” said Bassam Chahine, CEO of SMC.
SMC Fueling Saudi Vision 2030 Through Healthcare Innovation
The company, as a recognized center of excellence in integrated healthcare, provides services across multiple medical specialties. Its IPO aligns with Saudi Arabia’s Vision 2030 strategy to modernize the healthcare sector and expand private sector participation.
The company’s growth strategy includes continued investment in digitally enabled services, clinical excellence, and expanding access across the Kingdom.
As the Kingdom aims to boost healthcare capacity and innovation, this listing represents a critical milestone in both corporate and national transformation efforts.
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