Al Noor Hospitals to raise $150m in London IPO

International law firm Clifford Chance is advising the joint sponsors, joint global co-ordinators and joint book runners on the proposed IPO of Al Noor Hospitals Group Plc of Abu Dhabi.

Al Noor intends to raise gross proceeds of approximately $150 million and is expected to have a free float of c.30-45 per cent at IPO.

Clifford Chance partner Iain Hunter comments: "We fully expect to see a continuing trend of companies from the Middle East considering a London listing. Whilst the London market is by no means out of the woods yet, market sentiment is much more positive now than it has been for a long time and this is showing in the transactions that have been launched recently. Based on what we are seeing, we anticipate strong equity capital markets activity for the remainder of the year."
 

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