FCA Investigating Health Tycoon Over Share Holdings

Law360, London (February 11, 2020, 1:46 PM GMT) -- The Financial Conduct Authority is demanding answers from a private hospitals group after the London stock exchange-listed company warned the market about potentially incorrect reporting of shares owned by its billionaire founder.

NMC Health PLC said in a statement to the market late on Monday that it has asked three of its largest shareholders — including its founder and joint chairman Bavaguthu Raghuram Shetty — to step back from the board while it attempts to unravel who owns what shares.

The United Arab Emirates-based company said this suggests that the holdings and interests of Shetty and two other controlling shareholders, Saeed...

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