Religare Health Trust begins premarketing for $405 million IPO: sources

SINGAPORE (Reuters) - Religare Health Trust, which will own assets managed by Indian hospital group Fortis, is offering an indicative yield of 8.5 percent to 9 percent for its initial public offering that could raise as much as S$500 million ($405 million), two sources with direct knowledge of the deal said.

"The deal size will be between S$400 million and S$500 million," one of the sources with direct knowledge of the deal told Reuters. The units offered will comprise about 70 percent of the total, the source added.

The listing is planned in the third week of October, sources said.

Citigroup (C.N), Nomura, Religare Capital Markets, Standard Chartered (STAN.L) and CIMB (CIMB.KL) are handling the deal, said sources, who declined to be identified because the details of the deal are not public.

Religare Health Trust has a mandate to invest in medical and healthcare assets and services in Asia, Australasia and emerging markets, Fortis Healthcare (FOHE.NS) has said previously.

The premarketing for the deal began earlier on Tuesday. ($1 = 1.2345 Singapore dollars)

(Reporting by Saeed Azhar and Charmian Kok)