UAE-based NMC Health has become the first Middle Eastern firm to be listed on the UK’s FTSE 100 index, according to a company announcement.
The firm is among the top 100 companies by market capitalisation listed on the London Stock Exchange after being promoted this week.
NMC listed on the exchange in 2012 and has risen up the ranks after seeing its share price rise 22 percent over the last quarter from 2,187p to 2,670p, and a market cap of Dh26 billion ($7.07 billion).
Saeed Bin Butti Al Qubaisi, NMC’s largest shareholder said the firm’s presence on the index demonstrated its reputation as a blue chip company.
The healthcare firm, which appointed a new chief executive in March, has plans to expand across the Gulf region after establishing a base of hospitals in the UAE.
In February, it completed the acquisition of Al Zahra Hospital in Sharjah for $560 million and it is also pursuing the acquisition of two Atlas hospitals in Oman.
NMC’s revenues for the first half were up 34 percent year-on-year to $775.2 million, while its net profit attributable to shareholders increased 56 percent to $105.7 million.
