Specialized Medical issues prospectus to list 75M shares on TASI

Argaam

04-05-2025

Specialized Medical Clinic Co. issued the prospectus for floating 75 million shares on the Main Market (TASI).
The shares represent 30% of the company's SAR 250 million share capital, divided into 250 million shares, each with a nominal value of SAR 1.
For More IPOs
The IPO price will be determined after the book-building process. The subscription period will run for two working days, from May 28-29.
According to the prospectus, the book-building process and subscription period for participating entities will run from May 11 to May 15.
Last March, the Capital Market Authority (CMA) approved the company's application to list its shares on TASI.
The subscription is limited to two categories of investors:
Tranche (A): Participating Parties: Those qualified to participate in the book-building process, to which a total of 75 million shares, or 100% of offered shares, will be allocated. In the event of sufficient demand from retail investors, the lead manager will have the right to reduce the number of their allocated shares to 80% of the total offer shares, at 60 million in minimum.
Tranche (B): Retail Investors: Saudi nationals, any non-Saudi natural person living in the Kingdom and any GCC national, who holds a bank account with one of the receiving entities and has the right to open an investment account with a capital market institution. A total of 15 million shares (20% of the total offer shares) will be allocated to individual investors.
Key background
Founded in 1994, the company is headquartered in Riyadh and focuses on developing, managing, and operating multi-specialty general hospitals.
It currently runs two hospitals in Riyadh: SMC (1) on King Fahd Road and SMC (2) on King Abdullah Road. Three more hospitals are under development in the city.
The two hospitals offer around 600 beds and 250 outpatient clinics covering general and specialized fields. They are staffed by nearly 500 doctors and over 2,500 medical and nursing professionals.
Company Profile
Company
Specialized Medical Clinic Co.
Core Activities
Healthcare
Capital
SAR 250 mln
Number of Shares
250 mln
Share Par Value
SAR 1
IPO Summary
Issue Percentage
30%
Offered shares
75 mln shares
Total No. of Shares Offered to Individual Investors
15 mln shares (20% of post-IPO)
IPO Minimum Limit (Participating Entities)
100,000 shares
IPO Minimum Limit (Individual Subscribers)
10 shares
IPO Maximum Limit (Participating Entities)
12.5 mln shares
IPO Maximum Limit (Individual Subscribers)
1 mln shares
Offer period
From May 26-27, 2025
Final Allocation
June 4, 2025
Refund (if any)
June 4, 2025
Company Shareholders
Shareholders
Before IPO
After IPO
Number of Shares
(mln shares)
Ownership (%)
Number of Shares
(mln shares)
Ownership (%)
Abdulrahman Saad Al-Rashed & Sons Co.
100.99
40.4%
70.69
28.3%
Abdullah bin Saad Al-Rashed & Sons Co.
51.60
20.6%
36.12
14.4%
Al-Thammad Trading Co.
50.49
20.2%
35.34
14.1%
Rashid bin Saad Al-Rashed & Sons Co.
32.55
13.0%
22.78
9.1%
Khalid Al-Enezi
9.56
3.8%
6.69
2.7%
Mohammed Al-Qanbaz
4.81
1.9%
3.37
1.3%
Public
--
--
75.00
30.0%
Total
250.00
100 %
250.0
100 %
**Public ownership will represent 30% of the company's share capital at the time of listing. However, total public ownership will reach 34.02% post-IPO.