Regions

Al Noor Hospitals, the Abu Dhabi based healthcare company, has priced its initial public offer in London at GBP5.75 per share last Friday. This places the enterprise value of the firm at GBP672 million or US$1.04 billion.

The company is the largest private healthcare provider in the emirate known for its oil reserves. Al Noor had originlly priced its shsres between the range of GBP5.25 and GBP7.25 per share for the shares comprising a 32.9% stake in the company.

According to schedule, the said stock would be due for trading starting at 0700 GMT. The IPO would consist of 16,9 million newly issued shares while 21.6 million existing shares to be sold would be coming from the existing shareholders of the company.

Amongst the shareholders divesting shares is Astro II SPV, an affiliate of Ithmar Capital. This firm has retained a 28% stake of the increased capital shares in the company.