Specialized Medical Company announces the completion of offering period for individual investors and final allotment of shares
Riyadh, Saudi Arabia: Specialized Medical Company (' Company ' or ' SMC '), one of the leading healthcare providers in the Kingdom of Saudi Arabia (' Kingdom '), recognized as a center of excellence delivering comprehensive and integrated healthcare services across a wide range of specialties, announces the successful completion of the individual investor offering period and the final allotment of the offered shares in relation to the Company's initial public offering (the ' IPO ' or the ' Offering ').
Following the successful completion of the institutional book-building period, which has set the final offer price at SAR 25.0 per share and resulted of an oversubscription of 64.7 times of the total offered shares, the individual investors offer took place from 15 June to 16 June 2025G. The number of shares that were allocated to the Individual Investors tranche was 15,000,000 Offer Shares, representing 20% of the total Offer Shares. The Offering saw 317,820 individual investors place orders totaling SAR 542.2 million, reflecting a subscription coverage of 1.45 times for this tranche.
The Company allocated a minimum of 10 shares to each individual investor, with the remaining shares allocated on a pro-rata basis, based on the size of demand, with an average allocation factor of 63.9%.
Based on the results of the retail subscription process, the shares allocated to institutional investors will be reduced to 60,000,000 shares, representing 80% of the total Offer Shares, provided that such clawback shall not apply to the Company for Cooperative Insurance (Tawuniya), being the Cornerstone Investor, and the final allocation to the Cornerstone Investor shall be 5,875,000 Offer Shares in all cases. Accordingly, 54,125,000 shares of the Offer Shares will be allocated to the institutional investors excluding the Offer Shares allocated to the Cornerstone Investor.
Bassam Chahine, CEO at Specialized Medical Company commented: 'We are proud to have successfully completed our offering amidst evolving market conditions, which is a testament to the confidence investors have placed in SMC's growth story and long-term strategy. This milestone reinforces our market positioning as a differentiated healthcare provider and marks the beginning of an exciting new chapter in our journey upon the Company's listing.'
HIGHLIGHTS OF THE OFFER
Following the listing, the Company will have a free float of 30% (75,000,000) of its total Shares (250,000,000).
The Company for Cooperative Insurance (Tawuniya) subscribed, as Cornerstone Investor, for 5,875,000 shares of the Offer Shares (representing 2.35% of the Company's share capital after the Offering). The Company for Cooperative Insurance (Tawuniya) is considered a major investor in the Saudi markets. The Company believes that the contribution of the Company for Cooperative Insurance (Tawuniya) will provide an essential drive for achieving growth and long-term strategic goals.
The Offer Shares will be listed and traded on the Saudi Exchange's Main Market following the completion of the Offering and listing formalities with both the Capital Market Authority (CMA) and the Saudi Exchange.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
14 minutes ago
- Zawya
UAE cements its position as global destination for attracting FDI with total inflows of $45.66bln in 2024
DUBAI – The UAE ranked 10th globally as a leading destination for inbound foreign direct investment (FDI) in 2024, achieving an unprecedented AED 167.6 billion (USD 45.6 billion in FDI inflows, according to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2025. The UAE Foreign Direct Investment Report 2025, issued by the Ministry of Investment, highlights the country's exceptional performance and unmatched success in attracting capital across strategic sectors, reinforcing its status as a premier global investment destination despite an unstable global landscape. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, declared that, under the visionary leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, the UAE's tenth global ranking in FDI inflows for 2024 confirms its status as a land of boundless opportunities and the premier destination for innovative businesses and bold ideas. His Highness Sheikh Mohammed bin Rashid Al Maktoum said: 'In an international vote of confidence in the UAE's economy, the latest report by the United Nations Conference on Trade and Development (UNCTAD) revealed that the UAE attracted AED 167 billion ($45 billion) in foreign direct investment over the past year, marking a 48% growth compared to the previous year.' His Highness added: 'The UAE accounted for 37% of all foreign direct investment inflows into the region. Out of every $100 invested in the region, $37 comes to the UAE. The country also ranked second globally, after the United States, in the number of newly announced foreign direct investment projects. Our next goal is to attract AED 1.3 trillion in foreign direct investment over the next six years, God willing.' His Highness continued: 'Our foundation is strong, our future is promising, and our focus on our goals is crystal clear. Our message is simple: development is the key to stability, and the economy is the most important policy.' Despite a global slowdown in greenfield FDI project growth to 0.8%, the UAE achieved a remarkable 2.8% growth, solidifying its position as a key destination for investment flows. Total capital for announced greenfield FDI projects in 2024 reached AED53.3 billion (USD 14.5 billion). The UAE ranked second globally, after the United States, in attracting greenfield FDI projects, with 1,369 new projects announced in 2024. The Ministry of Investment leads these efforts by enabling investment in key sectors, providing a flexible and competitive environment for global capital, and acting as a trusted partner for international investors. The ministry continues close collaboration with federal and local government entities, investment promotion agencies, private sector companies, and international partners to develop innovative policies, enhance the UAE's investment value proposition, and unlock new avenues for long-term economic growth. Annual FDI inflows rose from AED31.6 (USD 8.6 billion) in 2015 to AED167.6 billion (USD 45.6 billion) in 2024, with cumulative FDI stock reaching USD 270.6 billion, reflecting a 10.5% compound annual growth rate from 2015 to 2024. Mohamed Hassan Alsuwaidi, Minister of Investment, stated: 'Recording this unprecedented level of FDI inflows to the UAE is an achievement that reflects the strategic choices made by our wise leadership and its long-term vision to establish the UAE as a leading global investment destination. The Ministry of Investment is committed to developing a comprehensive regulatory and legislative framework aligned with our national priorities, meeting investors' needs, and providing a competitive business environment that attracts global capital.' He added: 'The UAE's investment ecosystem has become a global model, thanks to its stability, transparency, trade openness, and ease of doing business. Through the National Investment Strategy 2031, we continue to set ambitious goals to cement the UAE's position as a leading global FDI destination. We provide a clear pathway to drive sustainable growth, double investment opportunities, diversify priority sectors, and open new horizons for global companies seeking innovation and expansion in future markets.' The strong performance of key economic sectors boosted the upward trajectory of announced greenfield FDI projects in the UAE. Software and IT services led announced FDI greenfield project values (11.5%), followed by business services (9.7%), renewable energy (9.3%), coal, oil, and gas (9%), and real estate (7.8%). The energy sector attracted AED4.8 billion USD 1.3 billion in greenfield FDI, advancing the UAE's national goal to triple renewable energy production capacity by 2030. The UAE's supportive investment policies and robust strategic partnerships have solidified its position as a primary destination for foreign capital in the region, capturing approximately 37% of the region's FDI inflows in 2024. The UAE continues to attract top global talent, driven by policies supporting its investment strategy, including full foreign ownership in mainland companies, a competitive 9% corporate tax rate, streamlined licensing procedures, and enhanced legal protections. These policies have fostered a favorable investment climate, while strong legal frameworks, such as the Dubai International Arbitration Centre, have bolstered investor confidence and safeguarded their interests. The UAE ranks fifth globally in attracting highly skilled talent (per the 2024 Global Talent Competitiveness Index by INSEAD) and third in attracting AI talent (per Stanford University's 2024 AI Index), reinforcing its status as a leading hub for professionals, entrepreneurs, and innovators. Global partnerships are another key driver of investment attraction, with 21 Comprehensive Economic Partnership Agreements and 120 bilateral investment treaties clearly supporting the investment landscape. This momentum is underpinned by the UAE's significant investments in digital transformation, exemplified by the USD 1.5 billion joint venture between Microsoft and Abu Dhabi-based G42 to advance AI capabilities and set new standards for innovation. The National Investment Strategy 2031 aims to double annual FDI inflows by 2031, targeting AED 2.2 trillion cumulative FDI by 2031, as per the National Investment Strategy (NIS). The strategy focuses on priority sectors such as advanced manufacturing, renewable energy, financial services, and IT, emphasising sustainability and innovation. Initiatives under this strategy aim to cement the UAE's global leadership in economic diversification and technological advancement.
Zawya
14 minutes ago
- Zawya
Global FDI rose 4% in 2024 to $1.5trln: UNCTAD
GENEVA - The United Nations Conference on Trade and Development (UNCTAD) revealed a decline in global foreign direct investment (FDI) value by 11 percent, marking a second consecutive year of contraction. According to UNCTAD's World Investment Report 2025, issued Thursday in Geneva, global FDI increased by 4 percent in 2024 to reach US$1.5 trillion. However, this rise was driven in part by volatile financial flows through several European economies, which often act as investment transit hubs. The report stressed that the findings underscore the urgent need to reshape investment and finance systems to support inclusive and sustainable growth. The report comes ahead of the Fourth International Conference on Financing for Development, which will bring world leaders together to address the widening gap between capital flows and development needs. UNCTAD noted that investment fell sharply in developed economies, particularly in Europe, while flows to developing countries remained broadly stable. Rebeca Grynspan, Secretary-General of UNCTAD, said fragmentation and volatility are distorting investment flows, adding that the investment landscape in 2024 was shaped by geopolitical tensions, trade fragmentation, and intensifying competition in industrial policies. She explained that these dynamics, coupled with elevated financial risks and uncertainty, are redrawing global investment maps and undermining long-term investor confidence. The report highlighted a 22 percent decline in FDI to developed economies, including a 58 percent plunge in Europe, while North America bucked the trend with a 23 percent increase, led by the United States. Regional trends varied: Africa saw a 75 percent surge in FDI, driven by a single large project in Egypt. Excluding this, inflows rose by 12 percent, supported by investment facilitation and regulatory reforms. Asia maintained its position as the leading recipient region. Despite a slight 3 percent decline overall, Southeast Asia recorded a 10 percent rise in FDI to US$225 billion — the second-highest level on record. In contrast, Latin America and the Caribbean saw a 12 percent drop in total inflows, although announcements of new projects rose in key markets such as Argentina, Brazil and Mexico. The report affirmed that the Middle East maintained strong FDI inflows, supported by economic diversification efforts in the Gulf region. FDI flows among structurally vulnerable economies varied: they increased by 9 percent in least developed countries (LDCs) and by 14 percent in small island developing states (SIDS), but declined by 10 percent in landlocked developing countries (LLDCs). Across all three groups, investment remained heavily concentrated in a small number of countries.
Zawya
14 minutes ago
- Zawya
Cluster2, Airbus to advance smart airport operations in Saudi Arabia
Saudi Arabia - Cluster2 Airports Company has signed a memorandum of understanding (MoU) with Airbus during the 2025 Paris Air Show, which aims to introduce advanced smart technologies led by the Airbus Agnet Turnaround platform—an innovative solution designed to enable real-time coordination of airport field operations, reported SPA. By adopting this platform, Cluster2 seeks to streamline workflows, boost operational efficiency, and enhance passenger experience across its network of 22 international and domestic airports. The MoU also supports broader goals of raising operational standards and enabling seamless collaboration among ground teams, security personnel, and control room operators. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
