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DUBAI, Sept 22 (Reuters) – Abu Dhabi-based hospital operator Burjeel Holdings is looking for local investors for its planned IPO, two sources said. game this week.
Egypt-listed EFG-Hermes (HRHO.CA) and JPMorgan (JPM.N) are no longer involved in the deal, the sources said, but declined to be named because the matter is not public.
The transaction was expected to be approved for distribution to US investors, but the company will instead focus on its home market.
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Burjeel, which has a network of 39 hospitals and clinics across the Middle East and India, declined to comment when contacted by Reuters on Thursday. JPMorgan also declined to comment, while EFG-Hermes did not immediately respond to requests for comment.
IHC (IHC.AD) said in a regulatory disclosure Monday that acquiring a stake in Burjeel would help diversify its healthcare investments both locally and regionally.
The company had previously planned to go public with a London listing, but had to reconsider in 2019 due to uncertainty surrounding Britain’s exit from the European Union.
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Reporting by Hadeel Al Sayegh; Editing by Jason Neely, Kirsten Donovan
Our standards: The Thomson Reuters Trust Principles.
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