Shares & Derivatives
Religare Health Trust: 8.5 to 9% yield.
By A Singaporean Stockmarket Investor (ASSI)  •  September 11, 2012
A new business trust to be listed soon in Singapore, it seems. Religare Health Trust, which will own assets managed by Indian hospital group Fortis, is offering an indicative yield of 8.5% to 9% for its initial public offering that could raise as much as $500 million. The units offered will comprise about 70% of the total, the source added. The listing is planned in the third week of October, sources said. 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. Source: REUTERS
Fortis Healthcare is controlled by billionaire brothers Malvinder and Shivinder Mohan Singh.
The distribution yield is tempting, for sure. However, I wonder what is the debt level going to be like. After all, it was reported in August that Fortis Healthcare, the sponsor of the trust, has a very heavy debt ......
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By A Singaporean Stockmarket Investor (ASSI)
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