News Roundup: Fortis To Raise $400M In Singapore IPO

04 April, 2016

Fortis To Raise $400M In Singapore IPO – Fortis Healthcare India, India’s second-biggest hospital company, is planning to raise about S$500 million ($400 million) in an initial public offering in Singapore later this year. Fortis is seeking to list as a business trust that will be backed by the assets of its Indian hospitals. A business trust typically pays out a bigger proportion of its income as dividends than a regular company.  Standard Chartered, Citigroup, and Religare Capital Markets will manage the offering. (Bloomberg)

Puravankara Projects To Raise Rs 150Cr – Puravankara Projects Ltd will raise Rs. 150 crore by selling non-convertible bonds to build a housing project in Bangalore and repay debt. Puravankara expects to pay 17% interest rate to investors. This is the second such bonds sale by Puravankara since April, when the Bangalore-based developer had raised the same amount at 16% to fund the development of its 54-acre Purva Windermere residential project in Chennai. (Mint)

JPMorgan, Morgan Stanley Bankers On Mahindra-Satyam Merger – Tech Mahindra & Mahindra Satyam came a step closer to their merger with the appointment of JP Morgan and Morgan Stanley as the bankers to provide a fairness opinion. The fairness opinion is given after the valuation exercise is completed, and accounting firms or a Category I merchant banker can recommend a share-swap ratio for the merger of the two listed firms.  (Economic Times)

BASIX Gets Funding For Africa Initiatives – BASIX Social Enterprise Group said it has received approval from the Swiss Agency for Development Cooperation for a funding of 7 million Swiss francs (SFR) for developmental initiatives in Africa. The Swiss Agency for Development Cooperation has agreed to finance SFR 7 million over six years to establish BASIX’s developmental initiatives in Africa jointly with CIDR France and several African partners.  (Economic Times)

ICVL In Talks For Quila’s Washpool Asset – Aquila Resources confirmed on Thursday it is in advanced talks to sell its Washpool coking coal asset to Indian state consortium International Coal Ventures (ICVL), a closely watched sale the miner needs to help fund its iron ore ambitions Aquila will need to raise more than A$3 billion ($3.24 billion) to fund its 50 percent share of a new iron ore mine and port project in Western Australia, which has been delayed due to port and funding issues.

Vedanta Eyes Two Big Ticket Deals – After completing the acquisition of Cairn India in January for $8.7 billion, Anil Agarwal, chairman of London-listed Vedanta Resources, is eyeing two big-ticket acquisitions this year: A coal mine in Latin America for $5 billion and the 29.5% government stake in Hindustan Zinc, which is majority-owned by the group. Vedanta on Thursday lost an opportunity to acquire an Australian coal asset  after the company abandoned the sale plan as it had not received bids for the $6 billion it had sought even after six months. (Times of India)


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Fortis-sponsored hospital services biz trust raises $419M via Singapore listing

Fortis-sponsored hospital services biz trust raises $419M via Singapore listing

TEAM VCC 4 years ago
Fortis Healthcare Limited (Fortis)-sponsored Religare Health Trust, which houses the hospital services business of the healthcare firm, has raised S$510.7 million ($419 million) by listing...
Fortis to buy trustee of its SGX-listed assets owner Religare Health

Fortis to buy trustee of its SGX-listed assets owner Religare Health

TEAM VCC 2 years ago
Fortis Healthcare Ltd said on Thursday it will buy the trustee manager of the Singapore stock exchange-listed group firm Religare Health Trust that owns the...
Fortis Healthcare Eyes Singapore REIT

Fortis Healthcare Eyes Singapore REIT

Reuters 7 years ago
Indian hospital operator Fortis Healthcare is looking to list a real estate investment trust in Singapore in the next six months to house its property...
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News Roundup: Fortis To Raise $400M In Singapore IPO

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