Global law firm White & Case LLP has advised leading Saudi Arabian healthcare service provider Specialized Medical Company (SMC Healthcare) on its listing on the Main Market of the Saudi Exchange (Tadawul).
The IPO raised gross proceeds of SAR 1.875 billion (approximately US$500 million), with the final offer price set at SAR 25.00 per share, at the top end of the announced price range. The transaction implies a market capitalization of SAR 6.25 billion (approximately US$1.67 billion) at listing.
The offering attracted significant interest from institutional investors, with total demand exceeding SAR 121.3 billion (more than US$32.4 billion). The retail portion comprised 20 percent of the total offering and saw participation from more than 317,000 individual investors.
Riyadh-based SMC Healthcare is widely recognized in Saudi Arabia as a center of excellence delivering comprehensive and integrated healthcare services across a wide range of specialties. It currently operates two tertiary care hospitals and has plans to develop three more hospitals by 2029.
The White & Case team which advised on the transaction was led by partners Sami Al-Louzi (Dubai) and Majed Alkuraydis (Riyadh) and included associates Hamzeh Al Rasheed, Andrew Scott, Wassim El Mardini, Cassy Raby (all Dubai), Husam Azhar and Sarah AlRasheed (both Riyadh).
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