Deals
Al Noor Hospitals Raises $342 Million in London IPO
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Al Noor Hospitals Group Plc raised 221 million pounds ($342 million) in the United Arab Emirates’ first initial public offering this year as the Abu Dhabi-based provider of health-care services seeks funds to expand.
Al Noor sold 38.5 million new and existing shares, or 32.9 percent of its equity, at 575 pence each, it said in an e-mailed statement today. The sale, which led to a London Stock Exchange listing, was managed by Deutsche Bank AG, Goldman Sachs Group Inc. and HSBC Holdings Plc and raised 97 million pounds in new money for Al Noor, it said. The shares, which started conditional trading today, gained 0.4 percent to 577 pence at 11:04 a.m. in London.