Bavaguthu Raghuram Shetty meeting the U.K. ambassador to the UAE, Patrick Moody.
The saga of Bavaguthu Raghuram Shetty sent the shares of two companies surging on Monday, in an otherwise listless trading Monday in London.
NMC Health NMC, +7.00% shares jumped 5.3% as the company said it has received indications of takeover interest from two private-equity groups. Shetty also said he’s had stepped down from the board after revealing that his stake in NMC Health had been incorrectly reported to both the company and the market.
NMC said the review would also affect the interests of two other major shareholders, Khaleefa Al Muhairi and Saeed Al Qebaisi.
According to FactSet data, Shetty holds 19% of NMC, with Al Muhairi controlling 16% and Al Qebaisi 8%.
That review in turn may affect Finablr FIN, +9.16%, the foreign-exchange platform. According to FactSet data, Raghuram owns nearly two-thirds of Finablr.
Finablr shares jumped 9%.
NMC Health is a target of short seller Muddy Waters, which said the news proves the “cockroach theory” that its allegations of accounting irregularities, which NMC has denied, are “likely just the tip of the iceberg.”
Another Muddy Waters target, Burford Capital BUR, -6.04%, slumped nearly 6%. Muddy Waters said the litigation finance firm’s second-half results were “abysmal.” Burford said Friday that net realized gains for 2019 will be lower.
The FTSE 100 UKX, -0.37% slipped 0.2%, as the rapid spread of coronavirus, which has claimed more than 900 people and infected more than 40,000 recently, has fueled a pullback in global markets.