NMC Health insiders sell £375m of stock

By Aidan Gregory
08 Jan 2020

Two major insiders offloaded £375m of stock in NMC Health, the troubled UAE-based private healthcare company to cover debts on Tuesday. The share sale, which was priced at a 19.7% discount to close, came weeks after a short selling attack on NMC Health by US activist hedge fund Muddy Waters, which caused the company to lose more than half of its market value.

Saeed Al Qebaisi and Khaleefa Al Muhairi, two of the three controlling shareholders in NMC Health, sold a total of 31.2m shares, a 15% stake, in NMC Health via an accelerated bookbuild on Tuesday evening.

The placing was launched simultaneously with another £54.7m sale of stock ...

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