LSE floor/Bloomberg
Abu Dhabi-based NMC Health plans an independent review of assertions from ‘certain third parties’ following allegations by short-seller Muddy Waters Capital that have hit the hospital operator’s share price, reported Bloomberg.
NMC has said those claims are unfounded. It has also denied a Financial Times article saying it planned to raise EUR 200 million ($222 million) of off-balance-sheet debt.
NMC stated that it believes the current share price is not an accurate reflection of the company’s value. The stock, which has lost almost half its value since Muddy Waters issued its report this month, traded three per cent higher in London.
The review, by an accounting firm, will be overseen by a committee made up of a majority of independent directors, said NMC.
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CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
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