SMC postpones retail IPO until June 15, 2025

One of SMC Hospitals

SNB Capital, the lead manager, financial advisor, bookrunner and underwriter on the potential IPO of Specialized Medical Co. (SMC), along with EFG Hermes Saudi Arabia, the financial advisor, bookrunner and underwriter, announced the postponement of the retail offering until June 15, 2025.

The IPO will run until 2:00 pm Makkah time, June 16.

For More IPOs

A second supplementary prospectus was also prepared to reflect additional developments.

The supplementary prospectus showed an amendment to the cash-dividend schedule for previous periods. The company’s general assembly approved on May 22 the cancellation of SAR 200 million in dividends and returning the amount to the company. The amount will be realized in Q2 2025 financial statements.

The retail offering was scheduled to run on May 28-29, 2025.

SMC plans to float 75 million shares on the Main Market. These shares represent 30% of the company’s SAR 250 million capital, divided into 250 million shares, each with a nominal value of SAR 1, according to data available with Argaam.

The price range was set between SAR 24 and SAR 25 a share.

Supplementary Listing Prospectus