A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. Goldman Sachs Group Inc said on Tuesday quarterly profit doubled, beating Wall Street estimates, boosted by returns from investing the bank’s own money. REUTERS/Brendan McDermid (UNITED STATES – Tags: BUSINESS) – RTX11OFA Photo Credit: Reuters

Goldman Sachs selling up to $82 mn worth of shares in Max Financial

21 February, 2017

A unit of Goldman Sachs has launched a block deal to sell up to $82.1 million worth of shares in Max Financial Services Ltd with an upsize option of $41.1 million, a deal term sheet showed on Monday.

The unit, GS Mace Holdings Ltd, is selling up to 10 million shares in Max Financial at a floor price of 550 rupees ($8.22) per share, according to the term sheet seen by Reuters.

The deal can be upsized by up to $41.1 million through the sale of an additional up to 5 million shares, the term sheet showed.

The floor price of the offering is at a 7.52 percent discount to Max Financial’s Monday closing share price of 594.75 on the National Stock Exchange.

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Goldman Sachs selling up to $82 mn worth of shares in Max Financial

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