January 24, 2020 / 8:07 AM / a month ago

Dubai's Emirates NBD Bank sells stake in NMC after Muddy Waters attack

FILE PHOTO: The logo for Emirates NBD bank is seen on a deflating hot air balloon over the Emirates Golf Course in Dubai in this December 11, 2009. REUTERS/Steve Crisp

(Reuters) - Dubai’s Emirates NBD Bank ENBD.DU said on Friday it had sold a 1.04% stake in healthcare firm NMC Health (NMC.L) for 27.05 million pounds ($35.55 million), weeks after NMC was hit by a short-selling attack by U.S. firm Muddy Waters.

The sale of 2.16 million shares in NMC, United Arab Emirates’ largest private healthcare provider, at 12.50 pounds per share, also comes days after two major shareholders launched a discounted share sale in the London-listed group.

The bank is NMC’s ninth-largest investor according to Refinitiv data.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shailesh Kuber

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