Health Burjeel eyes local investors for IPO after IHC buys stake By Reuters September 23, 2022 Burjeel The transaction was expected to be authorised for marketing to US investors, but the company will instead focus on its domestic market. Abu Dhabi-based hospital operator Burjeel Holdings is seeking local investors for its planned initial public offering, two sources said, scrapping plans to seek foreign investors after Abu Dhabi’s International Holding Company (IHC) took a 15 percent stake this week. Egypt-listed EFG-Hermes and JP Morgan are no longer on the deal, said the sources, declining to be named as the matter is not public. The transaction was expected to be authorised for marketing to US investors, but the company will instead focus on its domestic market. Burjeel declined to comment when contacted by Reuters on Thursday. EFG-Hermes and JP Morgan did not immediately respond to requests for comment. IHC said on Monday in a regulatory disclosure that its acquisition of a stake in Burjeel would help diversify its healthcare investments both locally and regionally.