Saudi Arabia healthcare firm Basma Adeem (Smile Care) has set the price range for its initial public offering (IPO) on the Saudi Stock Exchange’s Nomu Parallel Market at SAR 4 to 4.4 per share.

The company will float 4 million shares, representing a 20% stake.

The book-building period will run from January 13 to January 19. The IPO is open to qualified investors, each is required to subscribe to between 100 and 999,900 shares. 

The company operates dental clinics in Saudi Arabia.

The Saudi Exchange approved Smile Care’s application to list its shares on the parallel market in September 2024.

(Writing by Cleofe Maceda; editing by Seban Scaria seban.scaria@lseg.com)