Religare Health Trust raises S$510.7mn via Singapore IPO
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19 Oct 2012
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Marking the largest initial public offering in the field, said Religare Heath Trust (RHT) has raised nearly S$ 510.7 million by listing its unit on the Singapore Exchange. RHT is sponsored by Fortis Healthcare Limited (Fortis), thus post the listing, Fortis will continue to hold 28 per cent stake in the company. “We see this as a groundbreaking development for the entire healthcare sector. The increasing demand supply gap in healthcare delivery requires a significant increase in investment,” said Fortis, Executive Chairman, Malvinder Singh. This largest initial public offerings of a business trust by an Indian company in Singapore, is also the second largest primary listing in Singapore, said the company in a filing to Bombay Stock Exchange. “We see tremendous opportunity in the sector and the creation of this asset light model gives us the ability to consolidate our business and access funds to sustain and accelerate growth,” added Singh. |
| Source: Dion Global Type: IPO Related |
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