Saudi Hospital Operator Drops in Debut in Latest IPO Letdown

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Take our Survey

By Laura Gardner Cuesta

June 25, 2025 at 7:09 AM UTC

Updated on

June 25, 2025 at 12:51 PM UTC

Saudi Arabia-based Specialized Medical Co.’s shares fell in their Riyadh trading debut, marking the third straight muted listing in the kingdom.

The stock closed at 24.16 riyals apiece, 3.4% below the 25-riyal offer price, which valued the hospital operator at 6.25 billion riyals ($1.4 billion). The broader Saudi stock market was little changed on Wednesday.