CMA OKs IPO of 75M shares of Specialized Medical on TASI

26/03/2025 Argaam
Logo of Capital Market Authority (CMA)

Logo of Capital Market Authority (CMA)

The Capital Market Authority’s (CMA) board of directors approved today, March 26, the request of Specialized Medical Co. to register and offer 75 million shares for public subscription on the Main Market (TASI).

 

The offered shares represent 30% of the company’s total 250 million shares.

 

The CMA stated that the prospectus will be published well ahead of the subscription period.

 

The approval remains valid for six months from the board’s decision date and will be revoked if the company fails to complete the offering and listing within this period.

 

Specialized Medical owns the Specialized Medical Center (SMC Hospitals) trademark. It has two hospitals in Riyadh: Specialized Medical Center Hospital on King Fahd Road, and SMC Hospital on King Abdullah Road, while the Northern Ring Road Hospital in Riyadh is under construction.

 

The two hospitals include approximately 600 beds and 250 outpatient clinics. The clinics employ approximately 500 doctors and more than 2,500 technical and nursing staff.

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