December 18, 2019 / 7:31 AM / a month ago

UAE's NMC Health reaffirms outlook a day after Muddy Waters' report

Dec 18 (Reuters) - NMC Health Plc on Wednesday reaffirmed its forecasts for 2019 and 2020, a day after a report from U.S. short-selling firm Muddy Waters wiped a third off the value of the healthcare group’s market value.

The UAE-based company said it would look into the firm’s findings and would provide a detailed response in due course, calling the criticism of its financial statements “baseless.”

The London-listed firm separately said it would buy back up to $200 million worth of the company’s ordinary shares. (Reporting by Pushkala Aripaka in Bengaluru Editing by Saumyadeb Chakrabarty)

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