NEWS & VIEWS

Global private equity and venture capital news and research

PE-backed Abu Dhabi healthcare company Al Noor eyes 2013 IPO

20 Dec 2012

The private equity-backed consortium that owns half of Abu Dhabi healthcare company Al Noor Medical is reportedly planning an IPO in 2013.

The group, which includes Ithmar Capital and Qatar First Investment Bank, has dropped advisers HSBC Holdings and JP Morgan Chase and is seeking replacements, Reuters reported, citing unnamed sources.

The banks were understood to have held informal investor meetings regarding an Abu Dhabi IPO in late 2011, but the plan stalled following valuation discrepancies between owners and investors.

Ithmar Capital took its first step in rolling out an AED1bn ($272m) healthcare buy-and-build plan in the Gulf region in 2010.

The firm’s first move was to back Al Noor, which operates three hospitals, a trio of satellite clinics and a string of pharmacies across Abu Dhabi.

Copyright © 2012 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014