UAE healthcare provider NMCHealth, founded by billionaire Indian entrepreneur B.R. Shetty, plans to raise $175-$244 million from its initial public offering on the London Stock Exchange, a source at a bank involved in the deal said on Tuesday.
The IPO price range has been set at 200-280 pence per share, the banker said on Tuesday. That would equate to the shares trading at 10.5-14.7 times estimated 2012 earnings.
The final amount raised from the offering could increase to $200-$281 million if a 15 percent greenshoe, or over-allotment, option was exercised, the banker said.
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