UAE healthcare provider NMC Health raised 117 million pounds ($186.9 million) from its London initial public offering (IPO), joining a growing list of Gulf firms seeking overseas listings to counter moribound regional equity markets.
NMC, founded by billionaire Indian entrepreneur B.R. Shetty, sold 55.7 million new shares at 210 pence each - the bottom end of a 200-280 pence price range. A 15 percent greenshoe, or overallotment option, made up of existing shares will be exercised, NMC said on Monday.
The listing, only the second flotation on London's main market this year after Russian oil producer RusPetro in
January, signals a slight recovery in European equity markets after a hiatus caused by fears over the euro zone sovereign debt crisis.
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