RIYADH: Saudi Arabian hospital operator Specialised Medical Co (SMC) had demand for all the shares on offer in its US$500mil initial public offering (IPO), hours after books opened on the deal in Riyadh.

SMC will sell a 30% stake, or 75 million shares, at 24 riyals to 25 riyals (US$6.40 to US$6.67) apiece, according to a statement.