Abu Dhabi's Al Noor Hospitals plans London listing to raise $150 mln

ABU DHABI Tue May 28, 2013 2:31am EDT

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ABU DHABI May 28 (Reuters) - Al Noor Hospitals Group, the largest private healthcare provider in Abu Dhabi, plans to raise $150 million (sterling equivalent) from an initial public offering (IPO) to be listed on the London Stock Exchange, it said in a statement on Tuesday.

The company will have a free float of 30-45 percent at IPO, it said, adding that proceeds from the listing will primarily be used to finance future growth through acquisitions.

Deutsche Bank AG and Goldman Sachs Group are mandated joint sponsors and global coordinators, with HSBC Holdings as joint bookrunner, the statement said. (Reporting by Stanley Carvalho; Writing by Rachna Uppal; Editing by Sami Aboudi)

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