Please enter company name or stock symbol

Advanced Search

NMC Health falls as Dubai's Emirates NBD Bank sells stake

By Michele Maatouk

Date: Friday 24 Jan 2020

LONDON (ShareCast) - (Sharecast News) - NMC Health was in the red on Friday after Dubai's Emirates NBD Bank sold just under 2.2 million shares in the UAE healthcare provider in a placing.
Emirates NBN sold 2.16m shares at 12.50 per share, raising gross proceeds of around 27.05m.

Earlier this month, the stock came under pressure after two controlling shareholders sold a 375m stake in the company at a discounted price. Saeed Al Qebaisi and Khaleefa Al Muhairi sold 31.2m shares in NMC, or a stake of around 15%, at 12 per share. This presented a discount of approximately 20% to the last closing price.

In December last year, NMC Health shares took a tumble after a short-selling attack by US research firm Muddy Waters, which is run by Carson Block.

At 0840 GMT, the stock was down 2.3% at ,371.70p.