Dubai: Shares of NMC Health, the UAE-based health care provider, have been promoted on the London Stock Exchange to be listed under the FTSE 100 index, moving from the FTSE 250 index.
The move would make NMC the first Middle Eastern company to be listed on the FTSE 100 index, which comprises the top 100 companies listed on the London Stock Exchange with the highest market capitalisation.
NMC Health has a market capitalisation of £5.5 billion (Dh26 billion).
In a statement on Sunday, NMC Health said being on the FTSE 100 index strengthens the firm’s presence as a blue chip company in the region, and brings added value to investors.
NMC Health recorded $97.8 million in net profit in the first half of 2017, up nearly 39 per cent from the $70.5 million recorded in the same half of last year. The company, which listed shares on the London Stock Exchange in 2012, currently has operations in UAE, Saudi Arabia, and Oman, and is looking to diversify operations further into the GCC.
