Religare Healthcare Trust eyes up to $400 million Singapore IPO: Source

Aug 23, 2012 |

Reuters

SINGAPORE

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Religare Health Trust, which will own assets managed by Indian hospital group Fortis, plans to begin premarketing in Singapore in early September an initial public offering that could raise up to S$500 million, a source with direct knowledge of the deal said.

The IPO, which will be structured as a business trust, will offer a minimum yield of 8.5 per cent to investors, the source said, with a listing planned by the end of September.

CIMB has been added to the list bookrunners, which earlier included Religare Capital Markets, Citigroup, Nomura and Standard Chartered, the source said.

The trust will also buy third-party assets over time, the source added, declining to be identified because the listing details have not been publicly disclosed.

Fortis officials could not be reached for comment.

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

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