EFG Hermes Successfully Completes Advisory on USD 500 Million IPO of Specialized Medical Company on the Saudi Exchange
EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company (SMC)، one of the leading healthcare providers in the Kingdom of Saudi Arabia، on the Main Market of the Saudi Exchange (Tadawul). This marks EFG Hermes' third IPO in the healthcare space in the past 12 months، further reinforcing its position as a trusted advisor across the region's most dynamic sectors.
The company began trading today under the ticker 4019.
Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share، implying a market capitalization of SAR 6،250 million (USD 1،667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion، representing a coverage of 64.7x.
Karim Meleka، Co-Head of Investment Banking at EFG Hermes، said، 'We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region، the offering attracted overwhelming interest from a diverse base of local، regional، and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook.'
SMC was founded in 1999 and is one of Riyadh's leading multi-specialty private healthcare providers، with a 25-year track record of delivering high-quality، patient-centric medical care. The Company operates two state-of-the-art hospitals in Riyadh with a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh، where rapid urban development is creating strong demand for healthcare services. With three additional hospitals، it is expected to capture over 25% of private hospital capacity in the area، establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh's new urban hub. Once operational، the new facilities are expected to more than double the Company's current capacity to approximately 1،276 beds and 770 outpatient clinics.
EFG Hermes acted as a Joint Financial Advisor، Joint Bookrunner، and Joint Underwriter on the transaction.
EFG Hermes has advised on six IPOs across the region year to date، including landmark transactions on Tadawul، the Abu Dhabi Securities Exchange، the Muscat Stock Exchange، and the Egyptian Exchange، underscoring its regional leadership in equity capital markets.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
El Fagr
6 hours ago
- El Fagr
EFG Hermes Successfully Completes Advisory on USD 500 Million IPO of Specialized Medical Company on the Saudi Exchange
EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company (SMC)، one of the leading healthcare providers in the Kingdom of Saudi Arabia، on the Main Market of the Saudi Exchange (Tadawul). This marks EFG Hermes' third IPO in the healthcare space in the past 12 months، further reinforcing its position as a trusted advisor across the region's most dynamic sectors. The company began trading today under the ticker 4019. Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share، implying a market capitalization of SAR 6،250 million (USD 1،667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion، representing a coverage of 64.7x. Karim Meleka، Co-Head of Investment Banking at EFG Hermes، said، 'We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region، the offering attracted overwhelming interest from a diverse base of local، regional، and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook.' SMC was founded in 1999 and is one of Riyadh's leading multi-specialty private healthcare providers، with a 25-year track record of delivering high-quality، patient-centric medical care. The Company operates two state-of-the-art hospitals in Riyadh with a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh، where rapid urban development is creating strong demand for healthcare services. With three additional hospitals، it is expected to capture over 25% of private hospital capacity in the area، establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh's new urban hub. Once operational، the new facilities are expected to more than double the Company's current capacity to approximately 1،276 beds and 770 outpatient clinics. EFG Hermes acted as a Joint Financial Advisor، Joint Bookrunner، and Joint Underwriter on the transaction. EFG Hermes has advised on six IPOs across the region year to date، including landmark transactions on Tadawul، the Abu Dhabi Securities Exchange، the Muscat Stock Exchange، and the Egyptian Exchange، underscoring its regional leadership in equity capital markets.
Mid East Info
6 hours ago
- Mid East Info
ADFD and GCC Interconnection Authority Sign AED 752 Million Agreement to Expand GCC power Grid Connectivity With the UAE
Abu Dhabi, United Arab Emirates: Abu Dhabi Fund for Development (ADFD) has signed a financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to support the expansion of the GCC power grid interconnection with the UAE's national grid. Valued at AED 752 million (USD 205 million), the agreement aims to strengthen regional energy security and catalyse power exchange between the UAE and other GCC member states. The agreement was signed at ADFD headquarters in Abu Dhabi by His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, and His Excellency Eng. Ahmed Ali Al Ebrahim, CEO of the GCCIA. The signing was also attended by H.E. Eng. Sharif Salim Al Olama, Undersecretary of UAE Ministry of Energy and Infrastructure and Board Member of the GCCIA; H.E. Dr. Saif Saeed Al Qubaisi, Acting Director General of Regulatory Affairs at Abu Dhabi Department of Energy and Board Member of GCCIA, alongside other senior officials from both parties. The project aims to strengthen the interconnectivity between the UAE and GCC power grid, enhancing regional energy resilience and enabling broader economic and developmental integration. It also aligns with the UAE Energy Strategy 2050, which aims to establish an energy system that is efficient and sustainable, contributing to long-term national economic growth. H.E. Mohammed Saif Al Suwaidi reaffirmed ADFD's commitment to financing strategic infrastructure projects that align with the UAE's development goals. He highlighted the critical role of grid interconnection in building a resilient energy network and advancing regional efforts toward cleaner, more sustainable power generation. Designed as a strategic infrastructure upgrade, the project will reinforce the GCCIA grid and significantly expand electricity transmission capacity with the UAE. Based on detailed technical and economic feasibility studies, the initiative aligns with the GCCIA's forward-looking vision to deliver a reliable and durable regional power infrastructure. The project includes the construction of a 400kV double-circuit overhead transmission line extending 96 kilometres to connect the Al Silaa substation in the UAE with the Salwa substation in Saudi Arabia. It also involves the expansion of three key substations in Gonan, Al Silaa, and Salwa, and the installation of upgraded 400kV switchgears, circuit breakers and reactors. The project will also oversee the development of advanced protection and control systems, improving grid efficiency and reliability. H.E. Mohamed Al Suwaidi said: 'The project reflects ADFD's commitment to financing high-impact infrastructure that supports the UAE's development priorities. Power grid interconnection is a strategic enabler of energy security and a foundation for accelerating the transition to clean and sustainable energy sources.' He added: 'Our collaboration with the GCC Interconnection Authority is a practical example of regional energy integration. The project will increase the efficiency of the power grid, improve emergency preparedness, strengthen connectivity with regional partners, and promote the integration of renewable energy into a unified network, reinforcing the GCC's collective commitment to sustainable goals and emissions reduction targets.' Regarding the agreement H.E. Eng. Ahmed Ali Al Ebrahim, CEO of the GCCIA, said: 'This project represents the first phase of our partnership with ADFD during the current expansion of the GCC power grid. Alongside this effort, we are also advancing key interconnection initiatives with Kuwait, a direct link with Oman, and a southern Iraq grid connection. Together, these projects represent a total investment of over USD 1 billion.' He further explained: 'By leveraging increased transmission capacity, we aim to activate a unified Gulf electricity market to facilitate cross-border power trade, creating significant economic value, with projected opportunities exceeding USD 20 billion over the next 15 years.' Eng. Al-Ebrahim also praised the cooperation with ADFD, noting its important role in financing critical infrastructure that supports the GCC's sustainable development agenda. ADFD continues to play a leading role in advancing the energy sector. Over the years, the Fund has financed pioneering projects that have strengthened energy security and contributed to sustainable development, underscoring its steadfast commitment to advancing the global clean energy agenda.
CairoScene
17 hours ago
- CairoScene
External Debt Reduction Target Set At Up To USD 2 Billion A Year
Egypt looks to trim external debt by up to USD 2B annually amid fiscal tightening, tax reform gains, and IMF programme negotiations following a strong primary surplus. Jun 25, 2025 The Presidency announced plans to reduce the external debt of its budget authorities by USD 1 to 2 billion annually, following a fiscal strategy meeting between President Abdel Fattah Al-Sisi, Prime Minister Mostafa Madbouly, and Finance Minister Ahmed Kouchouk. During the meeting, the finance ministry reviewed outcomes from a tax facilitation initiative, which added EGP 54.76 billion in declared taxes after more than 450,000 new or amended tax returns were filed. Around 110,000 tax dispute settlement requests were submitted as of June 19th, while over 52,000 small projects applied for tax incentives. From July 2024 to May 2025, Egypt recorded a significant primary surplus and a narrowed deficit. Tax revenues jumped by 36%, reportedly driven by expanded economic activity and an enlarged tax base rather than the imposition of new taxes. The government also reviewed its ongoing reforms under the International Monetary Fund programme as negotiations continue on the fifth review. The discussion touched on global economic instability, particularly the effects of the Iran-Israel conflict on commodity prices and trade costs. Egypt has been working with the IMF since a multi-billion-dollar deal was signed in 2022 aimed at supporting economic resilience through structural reforms.
