VPS Healthcare Set to Court Investors Ahead of Abu Dhabi IPO - Bloomberg
Mideast hospital operator VPS Healthcare LLC is set to court investors ahead of potentially listing a unit in Abu Dhabi later this year, people familiar with the matter said.
The integrated health network will start talks this month with investors including sovereign and pension funds for an initial public offering of Burjeel Holdings, which operates about 60 VPS assets, the people said. The listing could come as soon as the third quarter, they said, asking not to be identified because the information is private.
Details on valuation or the size of the offer weren’t immediately available. EFG-Hermes Holding SAE, Emirates NBD Bank PJSC and JP Morgan Chase & Co. have been hired as global coordinators for the listing, the people said. Talks with investors are expected to continue into July with more formal group and one-on-one meetings to follow, they said.
Representatives for VPS declined to comment, while a spokesperson for EFG Hermes wasn’t available for comment.
VPS, which has hospital operations in the Middle East, Europe and India, had previously considered listing in London but shelved that plan in 2019 due to uncertainty surrounding Brexit. A listing in Abu Dhabi would come amid an IPO boom in the Gulf, where exchanges are on track for their best-ever first half.
No comments:
Post a Comment