Saudi Manpower Solutions Co. (SMASCO), the Kingdom’s leading service provider, is set to expand its footprint across Saudi Arabia with its initial public offering (IPO). Speaking to Arab News, CEO Abdullah Al-Timyat highlighted that the IPO will drive SMASCO’s growth initiatives, enhancing its market presence and bolstering stakeholders’ trust. The proceeds from the IPO will be directed towards strategic growth initiatives rather than internal operations, supporting the company’s capital-light model that is free from debt and backed by robust cash management.
Al-Timyat emphasized the importance of the IPO in enabling SMASCO to penetrate deeper into specific sectors within the Kingdom. The strategic direction includes leveraging advanced technologies like artificial intelligence to enhance efficiency and service delivery. Aligning with Vision 2030 benchmarks, SMASCO aims to contribute to economic growth and societal development, addressing the unique needs of various industries such as medical, logistics, tourism, and entertainment. With a focus on specialization, SMASCO has created subsectors within its team to provide high-quality, tailored services that align with market trends and specific industry requirements.