NMC raises $187m from IPO

UAE healthcare provider NMC Health, founded by billionaire Indian entrepreneur BR Shetty, has raised £117 million ($186.9m) from its initial public offering on the London Stock Exchange, a statement said on Monday.

The offering was priced at 210 pence per share, towards the bottom end of the 200-280 pence price range. A 15 per cent greenshoe, or overallotment, option will be exercised, the statement added.

Abu Dhabi-based NMC, one of the largest private sector healthcare providers in the United Arab Emirates, operates general and specialised hospitals, pharmacies and medical centres. 

Deutsche Bank is the sole sponsor, global co-ordinator and bookrunner for the IPO. Numis Securities Limited and Shuaa Capital are acting as joint lead managers.