NMC Health, Finablr stocks tumble after major investors dump shares - Reuters:
Shares in NMC Health (NMC.L) and Finablr (FINF.L) plunged on Wednesday after two major shareholders launched a discounted share sale in the London-listed groups, weeks after NMC was hit by a short-selling attack by U.S. firm Muddy Waters.
The healthcare firm’s vice-chairman Khaleefa Al Muhairi and its second-largest shareholder Saeed Al Qebaisi have together sold NMC shares worth 375 million pounds ($493 million).
The deal was priced at 1,200 pence per share, a bookrunner said, adding that the sale was oversubscribed. The price is at a discount of about 20% to NMC’s last close.
Qebaisi and Muhairi have also sold about 6% of total shares in Finablr for roughly $72 million. The payments firm is co-chaired by Bavaguthu Raghuram Shetty, also the founder and co-chairman of NMC.
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