NHS GP appointments app announces £3bn US stock market listing

Babylon founder Ali Parsa will net almost 1bn from Spac merger with Alkuri Global

A virtual GP appointments app used by the NHS has announced a 3bn US stock market listing after agreeing to a blank-cheque company merger that will net its British-Iranian founder almost 1bn.

Babylon's reverse merger with Alkuri Global, a New York-listed special-purpose acquisition company (Spac), makes it the latest firm to take advantage of a growing Spac trend that makes it cheaper for private companies to go public.