SMC to debut on TASI tomorrow

One of SMC Hospitals

Shares of Specialized Medical Co. (SMC) will start trading on the Main Market (TASI) tomorrow, June 25, under the symbol 4019 and ISIN code SA16B0CHUPH2.
 
The stock will be subject to a daily price fluctuation limit of ±30% and a static price fluctuation limit of ±10% for the first three trading days, Tadawul said in a statement.

For More IPOs

In a separate statement, the Securities Depository Center Co. (Edaa) deposited today, June 24, the subscribed shares of SMC into shareholder accounts.

SMC offered 75 million shares, representing 30% of the company's SAR 250 million capital, which is divided into 250 million shares at SAR 1 each. The initial public offering (IPO) was priced at SAR 25 a share, Argaam earlier reported

The retail offering was 1.5x oversubscribed with 10 shares allocated per individual subscriber.

The institutional offering was nearly 64.7x covered.