Scientific and Medical Equipment House (SMEH), a leading Saudi company in the field of operations, maintenance and healthcare, which was established in Riyadh, Kingdom of Saudi Arabia in 1979G, announces its intention to offer its shares for initial public subscription and to be listed on the Saudi Exchange (Tadawul).
On November 3, 2021G, the Capital Market Authority (CMA) approved SMEH's request to offer six million (6,000,000) ordinary shares representing thirty percent (30%) of the Company’s shares.
The Chairman of SMEH's Board of Directors, Mr. Basel bin Saud Al Arifi, said, “The offering of the Company’s shares for public subscription is an ambitious step which enhances the Company’s presence and financial strength, in line with the Company’s strategy to develop its performance and maximize its impact and achievement, which provides great opportunities for serious and safe investment in the Company.”
He added, “The announcement of our intention to list our shares on the Saudi Exchange (Tadawul) is a milestone in the Company’s journey which supports its presence and leadership in the operation, maintenance and healthcare sector. It also enables the Company to benefit from the opportunities available in this promising market. This will constitute a new important success in the Company’s long successful journey in the Kingdom. This is backed by the management team, which is composed of a group of competent experts and qualified technical cadres in all the Company’s departments.”
He also indicated that the Company adopts and applies the highest standards of quality and excellence in accordance with the best international advanced practices. The Company has obtained many certificates of quality and excellence in water safety as well as occupational health and operations management, which enhance its leading position as the largest provider of medical and non-medical operation, maintenance, catering and contracting services for both public and private sectors. It has competitive capabilities and advantages.
The Chairman of the Board of Directors stressed that the Company has many competitive advantages which added a great impetus to the accelerated growth process from its inception until now. This provides the Company with the flexibility and readiness to benefit from the growth and development available in this sector through relying on its strong financial position, strategic partnerships and distinguished pioneering presence in the market. In addition, we apply advanced work strategies in accordance with integrated governance practices based on a series of internal control and auditing processes for all financial and accounting operations. We also ensure that they conform with the relevant policies, procedures and regulations. The Company also applies a comprehensive governance policy for all its environmental and societal relationships. It applies advanced professional standards which include health and safety controls in all work environments and communities surrounding the Company’s projects.
The Company has been working in the healthcare, operation and maintenance sector for 40 years. It is one of the top companies in the Kingdom’s healthcare, operation and maintenance sector, carrying out its main activities through its Head Office, branches and Subsidiaries.
This activity is a core activity of the Company. It is related to providing medical maintenance for medical devices and equipment. SMEH is a top provider of maintenance and repair for medical devices, equipment and supplies. SMEH’s medical maintenance services are favored and recommended by its clients in the public and private sectors. The Company is currently carrying out medical maintenance services for many of the Kingdom’s health facilities in most regions of the Kingdom.
The Company is currently supplying labor, and managing and operating a number of medical facilities for several government entities (such as university medical centers of the Ministry of Education and public hospitals). Operation activities also include providing medical human resources, such as doctors, nurses, specialists and consultants. The Company's name has been associated with a number of key hospitals and other medical facilities in the Kingdom.
The Company’s activity in this sector includes maintenance, cleaning and non-medical operation of health facilities and others. It provides adequate infrastructure support in those facilities to ensure the most appropriate work environment is created. In this regard, the Company relies on its four decades of experience in carrying out its tasks, which are mainly related to non-medical services in medical facilities and maintenance. For example, the Company provides human resources, including engineers, technicians, labor and security guards, cleaning services, supplies hygiene materials and water, and carries out maintenance of non-medical devices, systems, and equipment, in addition to supplies of consumables and spare parts.
SMEH and its Subsidiaries hold nineteen (19) commercial agencies for leading global companies specialized in medical devices and equipment. The Company is an official commercial agent for such global companies in the Kingdom. This helps it provide integrated medical services to its public and private clients, including the sale, supply, maintenance and operation of medical devices and equipment.
The Company’s activity in this sector includes general contracting for buildings, roads, bridges and electrical, electronic and mechanical works in the governmental and private sectors. The Company is classified by the Agency of Ministry of Municipal and Rural Affairs as a contractor in ten (10) areas, including contracting and electrical and mechanical works. The Company has gained the confidence of its clients, reflected in the size of the projects implemented by the Company to date. The Company’s projects exceed one billion (1,000,000,000) Saudi Arabian Riyals, including building hospitals and medical, military and educational facilities, and providing the necessary infrastructure services such as fire extinguishing systems, security systems and others.
This activity is focused on providing catering services and cooked and uncooked food to hospitals in the Kingdom, in addition to supplying foodstuffs, meat, poultry products, vegetables and fresh and frozen fruits to hospitals and all sectors in the Kingdom. The Company delivers its services through a work system based on the most recent relevant international health standards to ensure the best results for its clients. Particularly in catering activities, the Company is capable of suppling all types of food for special medical cases such as children, infants, births and other cases which require special nutrition, as directed by the treating physicians.
This tranche includes the categories which are entitled to participate in the book building in accordance with the Instructions on Book Building and Allocation of Shares in Initial Public Offerings issued by the CMA. The number of offer shares for this tranche is six million (6,000,000) ordinary shares representing one hundred percent (100%) of the total offer shares. In the event that there is a sufficient demand from individual subscribers for the offer shares and the participating entities subscribe for the full share allocated to them, the Bookrunner shall have the right to reduce the number of shares allocated to the participating entities to five million four hundred thousand (5,400,000) shares representing ninety percent (90%) of the total offer shares.
This group includes Saudi natural persons, including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi person who can subscribe for her own benefit or in the names of her minor children, on the condition that she proves that she is a divorcee or widow and the mother of her minor children. It also includes any non-Saudi natural person who is a resident in the Kingdom, or any GCC national who has a bank account with a Receiving Entity and is entitled to open an investment account. The number of offer shares dedicated for this group amounts to a maximum of six hundred thousand (600,000) ordinary shares, representing ten (10) percent of the total offer shares.
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The
Company |
Name |
Email |
Role |
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Alistithmar for Financial Securities and Brokerage Company (Alistithmar
Capital) |
Yarub Al Badi |
Investment-banking@icap.com.sa |
Financial Advisor, Lead Manager, Bookrunner, and Underwriter |
