Religare Health sets price range for $445 mln S'pore IPO-IFR
SINGAPORE, Sept 28 |
SINGAPORE, Sept 28 (Reuters) - Religare Health Trust, which will own hospital-related assets managed by Indian hospital group Fortis, has set a price range of S$0.88 to S$0.97 a unit for its planned listing in Singapore that could raise as much as S$546 million ($445 million), IFR reported on Friday.
Religare Health, which is structured as a business trust, has a mandate to invest in medical and healthcare assets and services in Asia, Australasia and emerging markets.
The price range translates to a forecast dividend yield of 8.5 percent to 9.1 percent, IFR reported.
The book will be launched on Monday and pricing will be on Oct 9. Around 97 percent of the offer is for institutional investors and the rest for retail.
CIMB, DBS, Nomura, Religare Capital Markets and Standard Chartered are joint bookrunners for the IPO with Citigroup as joint lead manager. ($1 = 1.2281 Singapore dollars) (Reporting by S Anuradha of IFR; Writing by Saeed Azhar; Editing by Kevin Lim)
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