So, the anticipated third-largest IPO this year will finally be underway. It is none other than Religare Health Trust, aiming to raise $500 million in a initial public offering on the SGX. [Reuters link; Today online link]
Here are some important details about the IPO that are available at the moment
- $500 million to be raised to reduce debts
- Medical and healthcare assets
- End Sept is the rumored listing period
- Business trust style
- Minimum dividend yield of 8.5% (impressive number but more details required on its sustainability and conditions)
- Assets taken from Fortis Health Care Group; aim to buy third-party assets in future
- Religare Capital Markets, Citigroup, Nomura, Standard Chartered and CIMB are acting as the IPO's bookrunners
Of course for now, details are sketchy and as much as you and I can guess from these few news sources. But on first impression, it does seem somewhat similar ...
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