Al Noor Hospitals Group Plc joins the Market
Friday 21st June 2013
London Stock Exchange welcomes Al Noor Hospitals Group Plc (‘Al Noor’) to its Main Market.
Al Noor is the largest integrated private healthcare service provider in the Emirate of Abu Dhabi. Founded in 1985 it provides medical, surgical and emergency services, as well as specialised services across a network of 3 hospitals and 9 medical centres.
As announced by Al Noor on 21 June, shares were priced at 575p each valuing Al Noor at approximately £221 million. The initial offer (the “Offer”) raised gross primary proceeds of approximately £97 million for Al Noor.
Dr. Kassem Alom, Chief Executive Officer, Al Noor Hospitals Group Plc said:
"We are extremely pleased with the success of our initial public offering and that the share price has made such a strong start. We saw significant demand from international institutional investors for Al Noor’s shares demonstrating both the strength of the Company and the opportunity for growth. I look forward to working with the Board and the management team to drive Al Noor’s development and deliver strong shareholder returns.”
Deutsche Bank AG, London Branch, and Goldman Sachs International acted as Joint Sponsors and Joint Global Co-ordinators. HSBC Bank plc acted as Joint Bookrunners and Rothschild acted as financial adviser.