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NMC Health hit by another share sale

Emirates NBD Bank sold 2.16mln shares, representing 1.04% of the hospital operator’s share capital, as part of the repayment of a loan to the company's two major shareholders

NMC Health PLC -

NMC Health PLC (LON:NMC) shares took another tumbled on Friday after its major shareholders sold off another large stake.

Emirates NBD Bank (ENBD) sold 2.16mln shares, representing 1.04% of the Middle East-focused hospital operator’s share capital, in an accelerated bookbuild offering overnight.

READ: NMC Health calls in former FBI director to unmuddy the waters

ENBD said the sale was made to repay a “related loan” where it had lent funds to Infinite Investment LLC, the investment vehicle owned by Khalifa Butti Bin Omeir and Saeed Bin Butti Al Qebaisi.

The pair, also known as Khalifa Butti al-Muhairi and Saeed Mohamed al-Qebaisi, earlier this month announced plans to sell a £373mln stake in order to cover their debts.

NMC also this month appointed former US federal judge and Federal Bureau of Investigations (FBI) director, Louis Freeh, to look into allegations made against the company in December from short-seller Muddy Waters.

ENBD confirmed on Friday that all shares in the offering had been sold at a price of 1,250 per share, raising gross proceeds of roughly £27mln.

Quick facts: NMC Health PLC

Price: 938.4 GBX

LSE:NMC
Market: LSE
Market Cap: £1.96 billion
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