Riyadh — Mubasher: Qassim Medical Services Company, a unit of Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO), is set to float its shares on the Parallel Market (Nomu).

The subsidiary’s general assembly meeting approved the transaction on 17 September 2026.

SPIMACO currently maintains a 57.23% ownership stake in Qassim Medical Services. The proposed listing involves the offering and flotation of a portion of the subsidiary's shares, though the specific size of the offering has not yet been disclosed.

The company noted that the listing process is currently in its preliminary stages. The execution of the initial public offering (IPO) remains subject to completing all regulatory requirements and obtaining final approvals from the relevant authorities.

SPIMACO stated it will disclose further material developments regarding the listing process in accordance with applicable regulations.

In the first half (H1) of 2026, the listed group generated net profits amounting to SAR 133.50 million, a 28.99% increase from SAR 103.50 million in H1-25.