Dubai: It has risen a whopping 1,650 per cent since it started trading six years ago, more than any other company based in the Arab world.
Abu Dhabi-based NMC Health Plc closed at a record on Friday in London, boosting its market value to $10.8 billion (Dh39.67 billion). That’s about $200 million less than Emaar Properties PJSC, the developer of the world’s tallest tower in Dubai.
NMC Health is now one of 24 equities in the region with a market cap above $10 billion.
The medical company started trading as part of the FTSE 100 Index from September last year, a steep climb for a stock that was listed in 2012. The health-care provider sold shares in an initial public offering at 210 pence each, far lower than the £3.68 it traded at in London on April 20.
It still has a long way to go before unseating the unrivalled king of Middle Eastern stocks — Saudi Basic Industries Corp.
