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UAE-based NMC Health sets London IPO price range

UAE-based NMC Health sets London IPO price range

UAE healthcare provider NMC Health, founded by billionaire Indian entrepreneur BR Shetty, will raise between $174.6 million and $244 million from its initial public offering on the London Stock Exchange, a source at a lead bank said on Tuesday.

March 20, 2012 11:19 by

The price range for the offering has been set at 2-2.80 pounds ($3.18-$4.45), the banker said.

The final amount raised from the offering could increase to between $200 million and $281 million if a 15 percent greenshoe, or overallotment, option is exercised, the banker 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. ($1 = 0.6292 British pounds) (Reporting by David French; Editing by Praveen Menon)

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