UAE health care firm plans London stock listing

DUBAI, United Arab Emirates ? An Emirati health care company is planning to list its shares on the London Stock Exchange as it seeks to raise up to $250 million.

NMC Health said in a statement Thursday it hopes to use the initial public offering to raise cash to cover its existing plans and future growth.

The Abu Dhabi-based company runs hospitals, pharmacies and other medical facilities in the United Arab Emirates. It is also a major distributor of pharmaceuticals and medical products in the Gulf federation, the second-largest Arab economy.

NMC says it generated $443.7 million in sales last year.

Source: http://feeds.cbsnews.com/~r/CBSNewsGamecore/~3/vcI9_DD9m0Y/

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