The Arab Company for Pharmaceutical and Medical Appliances has completed mandatorily the full divestment of its 10.5% stake in the Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) through an accelerated bookbuilding process, executed via negotiated deals on the Saudi Exchange (Tadawul) on Sunday, September 6, 2026.
Executing the Accelerated Divestment on Tadawul
The transaction involved the sale of shares representing approximately 10.5% of SPIMACO’s issued share capital, targeted specifically at institutional investors within the Kingdom of Saudi Arabia. GIB Capital managed the offering as the financial adviser and manager of the institutional bookbuilding process for the selling shareholder, according to official market disclosures.
Trading activity surrounding the divestment culminated in 15 special trades executed on SPIMACO shares prior to the market opening, valued at SAR 351.2 million, as reported by Argaam. Concurrently, broader market data indicated that 22 special trades crossed the Saudi stock exchange valued at a cumulative 399 million ريال, highlighting significant institutional repositioning.
Market Mechanics and Regulatory Facilitation
To accommodate the accelerated bookbuilding process without disrupting regular market hours, Tadawul introduced a specialized operational framework. The exchange facilitated the transaction by activating a dedicated session prior to the pre-opening auction exclusively for negotiated deals involving SPIMACO shares.
These negotiated trades were made accessible solely to participating market members presenting orders for SPIMACO, which trades under the ticker symbol 2070. Regular market trading hours for all other listed securities remained unaffected, with the standard pre-opening auction commencing at 09:30 AM. All special trades executed during this early session were subsequently reflected on Tadawul’s dedicated negotiated deals webpage.
“The transaction reflects a disciplined approach to portfolio management by the selling shareholder, and importantly, the company itself will not receive any proceeds from the offering, nor will it result in any dilution for existing shareholders.”
Ahead of the execution, SPIMACO shares closed slightly higher on Tadawul at SAR 30.80.
As part of the structural terms governing the exit, should the selling shareholder retain any residual shares in SPIMACO following the completion of the offering, those remaining equities will be subject to a strict 60-day contractual lock-up period. This restriction underscores a measured approach toward any subsequent share sales in the enterprise.
