Dubai-based Shuaa Capital said it was the joint lead manager for the successful initial public offering of UAE healthcare provider NMC and its listing on the London Stock Exchange (LSE).

Shuaa played a key role in the admission of the entire share capital of NMC to the premium listing segment of the official list of the United Kingdom Listing Authority (UKLA) and to trading on the main market for listed securities on the LSE.

The NMC offer was admitted to the LSE last week at an offer price of 210 pence, raising gross proceeds of approximately £117 million ($187 million).

Commenting on the IPO success, Shuaa Capital chairman Sheikh Maktoum Hasher Al Maktoum said: “We are pleased to have been able to support NMC during its successful initial public offering notable for being the first Abu Dhabi company to list on LSE.'

'There was significant interest from a range of investors in the UK, US, Europe and the Middle East. We hope this IPO will further spotlight the GCC as a destination for investors looking to capitalise on strong emerging market companies,' Sheikh Maktoum remarked.

“This successful listing also reminds investors that there are many exciting UAE firms with solid fundamentals and experienced management teams,' he said.

'We have a pipeline of companies at different stages of readiness to bring to the market and we look forward to supporting them through the IPO process,' he added.-TradeArabia News Service