Saudi Hospital Operator SMC to Sell 30% Stake in Local IPO
Saudi Arabian hospital operator Specialized Medical Co. unveiled plans for an initial public offering in Riyadh, a further sign that firms across the kingdom are pressing ahead with listings despite global market volatility.
SMC, as the company is known, will sell 75 million shares, or a 30% stake, it said in a statement on Sunday. Bookbuilding is set to start on May 11, with a listing date still yet to be determined, according to terms of the deal seen by Bloomberg.
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