Investors in UAE hospital chain Aster eye $300 million India stake sale | Reuters
Investors in Aster DM Healthcare (ATRD.NS) are in talks to sell a 30% stake in the company's India business for about $300 million, two sources with direct knowledge said, the latest potential deal in India's booming healthcare sector.
UAE-based and Mumbai-listed Aster runs 32 hospitals, 127 clinics and 521 pharmacies in India and the United Arab Emirates. The current talks are related to the India business and come just as Aster tries to demerge its Gulf business and sell a majority stake in that, Reuters reported last month.
Aster and its advisors have reached out to private equity giant KKR & Co Inc (KKR.N) and Max Healthcare Institute (MAXE.NS) - one of India's largest hospital chains - to hold preliminary talks to take up the investors' stake, the sources said.
Aster's investors considering the sale are Olympus Capital, which has a 19% stake in the company, and Mauritius-based investment firm Rimco, which holds an 12% stake.
Aster has appointed New York-based investment bank Moelis & Company to manage the deal, said the two sources, who declined to be named as the discussions are private.
Friday, 26 May 2023
#Dubai Financial Watchdog Warns on Crypto Regulation Gaps - Bloomberg
Dubai Financial Watchdog Warns on Crypto Regulation Gaps - Bloomberg
Dubai’s financial regulator warned that global watchdogs need to step up talks with each other to avoid “bad actors” exploiting gaps in crypto rules, according to an official.
The Dubai Financial Services Authority plans an update to rules on crypto tokens, in force since November for the city’s business hub, that may come out later this year, said Elisabeth Wallace an associate director at the regulator.
“A lot of crypto businesses tend to operate a significant number of activities within one umbrella and that really concerns us,” Wallace said at a virtual conference on Friday. “They are across the whole world and as regulators we need to talk to each other a lot more in this area because there can be quite a few gaps and we have seen a lot of bad actors trying to plug some of those gaps,” she said.
Regulators globally are grappling with ways to handle the crypto industry. Jurisdictions like Hong Kong and Dubai are trying to attract crypto-related investment. Singapore plans curbs on retail-investor participation. US regulators, however, have been clamping down on crypto firms following the collapse of digital-asset exchange FTX and a deep market rout last year.
Dubai’s financial regulator warned that global watchdogs need to step up talks with each other to avoid “bad actors” exploiting gaps in crypto rules, according to an official.
The Dubai Financial Services Authority plans an update to rules on crypto tokens, in force since November for the city’s business hub, that may come out later this year, said Elisabeth Wallace an associate director at the regulator.
“A lot of crypto businesses tend to operate a significant number of activities within one umbrella and that really concerns us,” Wallace said at a virtual conference on Friday. “They are across the whole world and as regulators we need to talk to each other a lot more in this area because there can be quite a few gaps and we have seen a lot of bad actors trying to plug some of those gaps,” she said.
Regulators globally are grappling with ways to handle the crypto industry. Jurisdictions like Hong Kong and Dubai are trying to attract crypto-related investment. Singapore plans curbs on retail-investor participation. US regulators, however, have been clamping down on crypto firms following the collapse of digital-asset exchange FTX and a deep market rout last year.
#SaudiArabia’s Biggest IPO of Year Jamjoom Pharma Prices at Top of Range - Bloomberg
Saudi Arabia’s Biggest IPO of Year Jamjoom Pharma Prices at Top of Range - Bloomberg
The Riyadh initial public offering of generic drugmaker Jamjoom Pharmaceuticals Factory Co. will raise 1.26 billion riyals ($336 million) after shares were priced at the top of a marketed range, ending a drought in listings in Saudi Arabia.
The owners of Jamjoom Pharma are selling 21 million shares in the IPO. They priced them at 60 riyals each, the top of a range that started at 56 riyals, according to a statement on May 25. Jamjoom Pharma will take orders from retail investors from May 30 to June 1, while a listing date will be determined later.
Jamjoom Pharma’s IPO is set to be the largest in the kingdom since Saudi Aramco Base Oil Co.’s $1.3 billion listing in December and is serving as a gauge of investor appetite as the IPO market in Saudi Arabia slowly comes back to life.
Before Jamjoom, just $72 million had been raised through Saudi IPOs in the slowest start since 2014, data compiled by Bloomberg show, a fraction of the almost $4 billion seen this time last year. Potential Saudi issuers have been cautious in 2023 after a rush of listings last year, with some of those underperforming on their first day of trading.
The Riyadh initial public offering of generic drugmaker Jamjoom Pharmaceuticals Factory Co. will raise 1.26 billion riyals ($336 million) after shares were priced at the top of a marketed range, ending a drought in listings in Saudi Arabia.
The owners of Jamjoom Pharma are selling 21 million shares in the IPO. They priced them at 60 riyals each, the top of a range that started at 56 riyals, according to a statement on May 25. Jamjoom Pharma will take orders from retail investors from May 30 to June 1, while a listing date will be determined later.
Jamjoom Pharma’s IPO is set to be the largest in the kingdom since Saudi Aramco Base Oil Co.’s $1.3 billion listing in December and is serving as a gauge of investor appetite as the IPO market in Saudi Arabia slowly comes back to life.
Before Jamjoom, just $72 million had been raised through Saudi IPOs in the slowest start since 2014, data compiled by Bloomberg show, a fraction of the almost $4 billion seen this time last year. Potential Saudi issuers have been cautious in 2023 after a rush of listings last year, with some of those underperforming on their first day of trading.
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