The largest private healthcare provider in the United Arab Emirates is listed in London on the blue-chip FTSE 100 index but has come under increasing pressure after shareholder Muddy Waters raised questions over its finances, prompting major investors to sell out, sending its share price tumbling.
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NMC, the United Arab Emirates’ largest private healthcare company, has been thrown into turmoil in the past month by doubts over its finances and the reporting of shareholdings of some its main owners including Shetty.
A bruising short-selling attack by Muddy Waters launched two months ago has seen the company’s market value fall to 1.6 billion pounds ($2.1 billion), a far cry from its peak value of about 8.4 billion pounds in August 2018.
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