Al Noor Hospitals Group has no immediate plans to list its shares in the UAE, but it did not rule out such a listing in the future.
“Such a decision is one that management will need to take plenty of time to discuss,” said the chief financial officer Pramod Balakrishnan. “But it’s certainly something we do not rule out for the future.”
The Abu Dhabi-based healthcare provider listed on the London Stock Exchange in June 2013.
The UAE’s new companies law, which will come into effect in July, reduces the minimum free float for listed companies to 30 per cent from the current level of 55 per cent, making listing a more attractive option.
Al Noor said in March that it expects to deploy at least US$60 million this year for an expansion of its existing facilities and procuring new equipment.
Mr Balakrishnan said that it had enough cash on its books to fund its immediate expansion plans without going to the market.
Al Noor operates two hospitals in Abu Dhabi, one in Al Ain and nine outpatient medical centres across the emirate.
The company’s shares, currently priced at 870p, did not trade yesterday, because of a public holiday in the UK.
jeverington@thenational.ae
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