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Sunday, 28 May 2017

Dubai's Aster DM Healthcare Plans 2018 IPO as Sentiment Improves - Bloomberg

Dubai's Aster DM Healthcare Plans 2018 IPO as Sentiment Improves - Bloomberg:

"Aster DM Healthcare is planning an initial public offering next year as the Dubai-based medical provider seeks to take advantage of improved market sentiment for the Persian Gulf.

The company aims to sell 10 percent of shares by October 2018, with a listing either in Mumbai or London, Chief Executive Officer Alisha Moopen said Sunday in an interview in Dubai. Proceeds will be used to pay debt and expand, including through acquisition. Kotak Mahindra Capital will be lead manager of the issue, she said.

Aster DM filed a draft prospectus for an IPO last year, when low crude prices slowed growth in the oil-dependent Middle East and created uncertainties for companies. Aster DM operates clinics, hospitals and pharmacies in the United Arab Emirates, Oman, Qatar, Bahrain and Saudi Arabia and competes with Abu Dhabi-based NMC Health Plc, which has seen its shares jump 41 percent this year in London trading."



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