NMC Health appointed a committee of independent board members to look into the matter last month/Bloombergby Kudakwashe Muzoriwa
Dubai's Emirates NBD sold its 1.04 per cent stake in NMC Health for GBP 27.05 million ($35.55 million), weeks after the Abu Dhabi-based healthcare firm was hit by a short-selling attack by US firm Muddy Waters.
The bank’s sale of 2.16 million shares in NMC at GBP 12.50 per share, also comes days after two major shareholders launched a discounted share sale in the London-listed group.
Reuters reported that NMC's Vice-Chairman Khaleefa Al Muhairi and its second-largest shareholder Saeed al Qebaisi together sold NMC shares worth GBP 375 million on 8 January 2020.
The bank said that it sold the company's shares after the repayment of a related loan entered into by another entity, Infinite Investment, as the borrower and Emirates NBD as the lender.
NMC launched an independent review of its finances after short-seller Muddy Waters questioned the value of its assets and cash balance while announcing a short position.