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Abu Dhabi's NMC Health gains 1,650% in six years, stock hits record high

NMC Health is now one of 24 equities in the region with a market cap above $10 billion

Shaji Mathew | Bloomberg  |  Dubai 

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It has risen a whopping 1,650 per cent since it started trading six years ago, more than any other company based in the Arab world.

Plc closed at a record on Friday in London, boosting its market value to $10.8 billion. That’s about $200 million less than Emaar Properties PJSC, the developer of the world’s tallest tower in Dubai.

is now one of 24 equities in the region with a market cap above $10 billion. Service on Monday assigned the company a first-time rating of Ba1, the highest non-investment grade, with a stable outlook.

The started trading as part of the from September last year, a steep climb for a stock that was listed in 2012. The healthcare provider sold shares in an initial public offering at 210 pence each compared with 3,688 pence in London on April 20.

It still has a long way to go before unseating the unrivaled king of Middle Eastern stocks:

First Published: Tue, April 24 2018. 00:37 IST