Saudi Hospital Operator SMC to Float 30% Stake in Local IPO

By Faizal

05 May 2025

Saudi Hospital Operator SMC to Float 30% Stake in Local IPO

Saudi Arabia’s Specialized Medical Co. (SMC) has announced plans to sell a 30% stake through an initial public offering (IPO) on the Riyadh exchange, marking the latest move in the kingdom’s IPO boom.

The healthcare provider will offer 75 million shares, with bookbuilding scheduled to begin on May 11, according to a company statement. The listing date has not yet been confirmed.

SMC, which runs two hospitals in Riyadh and plans to expand to five facilities with a total capacity of 1,276 beds, generated 1.1 billion riyals ($290 million) in revenue in the first nine months of 2024 with a profit margin of 14.3%.

The IPO comes as Saudi Arabia continues to dominate the Middle East’s IPO landscape, with firms raising $1.2 billion year-to-date, Bloomberg data shows. SMC is working with SNB Capital and EFG Hermes on the offering.

Healthcare remains a central pillar of Vision 2030, the kingdom’s long-term economic diversification plan. The sector has already seen major listings, including Fakeeh Hospital Co. ($763 million) and Almoosa Health Co. ($450 million).

Written by

Faizal

Faizal is an experienced content creator and writer with a strong focus on business trends, economic developments, and emerging opportunities across the Gulf region. His work reflects a keen understanding of evolving markets, industry dynamics, and the factors shaping the region’s business landscape. With a research-driven approach, Faizal transforms complex market developments into clear, informative, and actionable insights for professionals, entrepreneurs, and business leaders. His content aims to provide valuable perspectives on key economic trends and developments influencing businesses across the Gulf.