Dr. B.R. Shetty, the founder and chairman of New Medical Centre (NMC), as well as UAE Exchange, Finablr, Neopharma, and BRS Ventures, is set to sell the shares of Neopharma, his pharmaceuticals business.
He said selling the shares of Neopharma to institutional investors and retail or individual investors is a good thing in today’s market and added the selling of shares is now in an initial stage.’ It makes sense to take it down this path where an IPO as an option is a good thing,’ said Binay Shetty, chief executive officer of BRS Ventures. Work on the potential share sale in Neopharma is at an initial stage, he said.
Shetty said the business could be listed in the next three years but that there was no decision on whether to return to London again. ‘We want to work on this for the next six months internally. Neopharma’s first manufacturing unit was launched in 2003 at Abudhabi. Neopharma currently operates in about 50 markets, including the Middle East, Africa, and Asia.
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