(Adds deal's expected pricing, discount in paragraph two, three, and background)
Jan 7 (Reuters) - Two investors of NMC Health Plc are selling shares worth 374 million pounds ($490 million) in the healthcare group, a bookrunner for the deal said on Tuesday, weeks after short-selling firm Muddy Waters questioned the company's finances. The deal, led by shareholders Saeed Al Qebaisi and Khaleefa Al Muhairi, is expected to be priced at 1,200 pence per share, the bookrunner said, adding that the books were oversubscribed.
The price is a discount of about 20% from the stock's last close of 1494.5 pence on the London Stock Exchange.
NMC, the largest private healthcare provider in the United Arab Emirates, said last month it would launch an independent review of its finances following criticism by the short-selling firm.
The move helped NMC recoup some of the sharp losses inflicted by the Muddy Waters' report, which revealed that it had acquired a short position in the healthcare group, and also questioned the value of its assets and cash balance.
Short selling involves borrowing an asset and selling it with the aim of buying it back at a cheaper price and making a profit.
Shares in NMC, which denied the allegations, have slumped more than 40% since the report was launched.
$1 = 0.7624 pounds Reporting by Aakriti Bhalla in Bengaluru; Editing by Aditya Soni and Sherry Jacob-Phillips