India's Fortis eyes up to $400 million trust IPO in Singapore: source: SINGAPORE (Reuters) - Religare Health Tru...

India's Fortis eyes up to $400 million trust IPO in Singapore: source

reuters.com 23 Aug '12, 10am

India's Fortis eyes up to $400 million trust IPO in Singapore: source: SINGAPORE (Reuters) - Religare Health Tru...

By Saeed Azhar SINGAPORE | Thu Aug 23, 2012 6:41am EDT SINGAPORE (Reuters) - Religare Health Trust is set to launch an up to $400 million initial public offering in Singapore, a source said, in a move that will allow the backer of the trust, Indian hospitals group Fortis Healthcare, to cut its substantial debt level. The trust, which will own assets managed by Fortis, plans to begin premarketing of the IPO in early September, said the source who had direct knowledge of the deal. The IPO will be structured as a business trust and will offer a minimum yield of 8.5 percent to investors, the source said. Listing has been planned for end-September. This will be the third biggest IPO in Singapore this year after the dual listing of IHH Healthcare in a $2.1 billion deal and Far East Hospitality Trust, which raised $575 million in an IPO last week. Fortis is India's No. 2 hospital...

Full article: http://www.reuters.com/article/2012/08/23/us-religare-tru...

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