Middle East hospital operator VPS Healthcare considers Abu Dhabi IPO – sources

DUBAI, Feb 22 (Reuters) – Middle Eastern hospital operator VPS Healthcare is contemplating an preliminary public providing in Abu Dhabi and has invited a choose variety of banks to pitch for roles, two sources informed Reuters.

A request for proposals was despatched to the banks earlier this month, stated the sources with data of the matter, declining to be named because the matter was not public.

The proprietor of the corporate is contemplating the potential of a deal this 12 months, they stated, including that no remaining determination had been made concerning the preliminary share sale. They didn’t present additional particulars.

VPS didn’t reply to a request for remark when contacted by Reuters on Monday.

The firm, which manages the UAE’s Burjeel hospitals, has a community of 24 hospitals and 125 clinics throughout the Middle East and India.

VPS had beforehand deliberate to go public with a list in London however in 2019 was pressured to rethink on account of uncertainty surrounding Brexit.

Investor curiosity is gaining momentum in Abu Dhabi after a slew of listings final 12 months together with ADNOC Drilling (ADNOCDRILL.AD), Fertiglobe (FERTIGLOBE.AD) and Yahsat (YAHSAT.AD).

Traded worth on the Abu Dhabi bourse elevated 5-fold final 12 months to 739 billion dirhams ($201.22 billion).

($1 = 3.6726 UAE dirham)

Reporting by Hadeel Al Sayegh; Editing by Subhranshu Sahu

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