UAE - Mubasher: The UAE-headquartered NMC Healthcare has made a request to delist its shares from the Financial Conduct Authority (FCA) in the UK and the London Stock Exchange (LSE), according to Reuters.
Through this decision, the health group seeks to save the listing costs and expedite the decision-making process with all concerned parties.
Suspended two months ago, the shares of the group, which has $6.6 billion debt, were transferred into administration in April after its biggest lender, Abu Dhabi Commercial Bank (ADCB), submitted an application form.
Commenting on the health group's request, the joint administrator of NMC and managing director of Alvarez & Marsal, Richard Fleming, said in a statement: "We are working at pace to ensure continuity of patient care, stability for staff and suppliers and financial security for NMC's operating companies."
Fleming added: "Delisting shares in NMC Health is the logical next step, given the situation we have inherited."
It is noteworthy to mention that in mid-April, ADCB initiated criminal proceedings against a number of individuals in relation to NMC Healthcare.
