After stepping back from his role as chief executive of NMC Health (NMC) earlier this year, Dr Bavaguthu Raghuram Shetty - now joint non-executive chairman - has now sold more than 2m ordinary shares in NMC at 2,320p a share, bringing his cashout to £47.4m. This is the first time that Mr Shetty, who founded the United Arab Emirates-focused healthcare provider, has sold shares in the company since it listed on the London Stock Exchange in 2012. Shareholders shouldn't be too worried: after the sale he still holds more than 49.7m shares, or around 24.3 per cent of issued share capital.
In its last set of full-year results in March the company reported that its revenue had crossed the $1bn (£800m) threshold after the opening of a speciality hospital added 250 beds to its portfolio, pushing its share price to an all-time high of 2,389p in June. The company raised around £255m by placing 18.6m shares at 1,375p each in December last year to acquire the Al Zahra Hospital in Sharjah, the UAE's third-largest city.