SPIMACO starts the path to a Nomu listing for Qassim Medical

SPIMACO said Qassim Medical Services, its healthcare-services subsidiary, has cleared the first internal hurdle toward selling and listing part of its shares on Saudi Arabia’s Nomu parallel market. The subsidiary’s shareholders approved moving ahead at a September 17 meeting; SPIMACO currently owns 57.23% of the business. This is not a completed flotation: the proposal still needs regulatory approvals, and the size and structure of the offering have yet to be determined. If it proceeds, the listing would give investors a direct way to invest in a healthcare-services business that sits alongside SPIMACO’s better-known pharmaceutical operations.