January 7, 2020 / 10:09 PM / 21 days ago

Investors sell shares worth $490 mln in troubled NMC Health

Jan 7 (Reuters) - Two investors of NMC Health Plc are selling shares worth 374 million pounds ($490 million) in the healthcare group, a bookrunner for the deal said on Tuesday, weeks after short-selling firm Muddy Waters questioned the company’s finances.

NMC, the largest private healthcare provider in the United Arab Emirates, said last month it would launch an independent review of its finances following criticism by the short-selling firm.

That move helped NMC recover some of the sharp losses inflicted by the Muddy Waters’ report.

Shares in NMC, which denied the allegations, have slumped more than 40% since the short-selling firm revealed it had acquired a short position in the company.

$1 = 0.7624 pounds Reporting by Aakriti Bhalla in Bengaluru; Editing by Aditya Soni

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