– UAE healthcare provider joins the Main Market today
– Al Noor Hospitals Group becomes second Middle Eastern healthcare company to list in London
– Largest international IPO of 2013
London Stock Exchange today welcomed Al Noor Hospitals Group to the Main Market. The Abu Dhabi-based group, the largest integrated private healthcare service provider in the Emirate, raised Â£221m, valuing the company at Â£672m.
To celebrate the occasion, Dr. Kassem Alom, Chief Executive Officer, Al Noor Hospitals Group joined Alastair Walmsley, Head of Primary Markets, London Stock Exchange Group to open trading in London this morning.
Ibukun Adebayo, Head of Primary Markets, Middle East & Africa London Stock Exchange Group said:
“We are delighted to welcome Al Noor Hospitals Group to London Stock Exchange. As a London-listed company they will gain access to the world’s most international market as well as an unrivalled source of deep liquidity and new investors. This listing underlines London’s enduring attraction to ambitious, growth-focussed companies.”
Dr. Kassem Alom, Chief Executive Officer, Al Noor Hospitals Group said:
“We are excited to be entering into the next phase of our development as a listed company. We will use the funds raised to help finance continued growth through expansion in the Emirate of Abu Dhabi, other key Emirates and the wider region. We aim to improve existing hospitals, extend our network of outpatient medical centres and grow both organically and through acquisition.”
Al Noor Hospitals Group is the second healthcare company from the region to list in London within the last 14 months. NMC Healthcare listed on the Main Market in April 2012, raising Â£117m. 41 Middle Eastern companies are listed on London Stock Exchange with a total market capitalisation of Â£28 billion. In the last ten years, companies in the region have raised Â£5.4 billion in London.
Image By gren (Self-published work by gren) [Public domain], via Wikimedia Commons