Riyadh, Saudi Arabia — The Saudi Exchange (Tadawul) confirmed that shares of Specialized Medical Center (SMC) will list and begin trading on the Main Market on Wednesday, June 25, 2025. SMC will trade under the ticker symbol 4019, with the international code SA16B0CHUPH2.
SMC Saudi Exchange Listing: Trading Details and Price Limits
Tadawul outlined the price fluctuation limits for the SMC Saudi Exchange listing. During the first trading session, the stock will have daily price limits of ±30% %. Additionally, fixed price fluctuation limits of ±10% % will apply for the first three days.
The daily price fluctuation limits will revert to ±10% from the fourth trading day. At that stage, Tadawul will also remove the fixed price limits.
These measures aim to balance price discovery and investor protection during the early days of trading.
SMC IPO Results: Retail Investor Demand and Allocation
Al Ahli Financial Company and EFG Hermes Saudi Arabia announced the successful completion of the IPO for Specialized Medical Center on June 18. Al Ahli was lead manager, financial advisor, bookrunner, and underwriter. EFG Hermes acted as co-financial advisor, bookrunner, and underwriter.
Retail investor demand for the IPO was strong, with 317,820 individual investors participating. The company priced shares at SAR 25, and total orders exceeded SAR 542.2 million. This resulted in a 1.45 times coverage ratio for the retail tranche.
A total of 15 million shares went to individual investors, representing 20% of the overall offering. Each retail investor secured at least 10 shares. Remaining shares were allocated proportionally, with an allocation ratio of 63.9%.
The Saudi Standard’s View: Healthcare IPO Demand Strengthens with SMC Listing
The upcoming SMC Saudi Exchange listing highlights growing investor appetite for healthcare IPOs. The 1.45x oversubscription rate reflects sustained interest in Saudi Arabia’s healthcare sector, particularly among retail investors seeking defensive and growth-oriented assets.
Healthcare is central to the Kingdom’s Vision 2030 goals. Listings like Specialized Medical Center align with national efforts to expand healthcare infrastructure while deepening capital market participation.
Tadawul’s price fluctuation limits ensure orderly trading while allowing market forces to set valuations during the first sessions. As SMC joins the Main Market, investors gain broader exposure to healthcare, a sector with long-term structural demand and steady investment flows.
Looking ahead, SMC’s debut contributes to market depth and sector diversification, underscoring the strength of the Saudi IPO market.
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