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Al Noor Hospitals may raise up to $390m in London float

Published: Updated:

Abu Dhabi’s Al Noor Hospitals is targeting to raise between $320 to $390 million from its London public share offering, a statement said on Monday.

Al Noor, the largest private healthcare provider in the oil-rich emirate, set the price range for the initial public offering (IPO) at 5.25-7.25 pounds ($8.20-$11.00), a statement to the London stock exchange said.

Of the total offering, $150m will be from the issuing of new shares, with the remaining shares sold by existing shareholders.

Following the share sale, Al Noor will have a market capitalization of between $950m and $1.26 billion, it added.

Deutsche Bank AG and Goldman Sachs are mandated joint sponsors and global coordinators, with HSBC Holdings as a joint book runner for the IPO.

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