An affiliate of Qatar Foundation Endowment will sell its 5 percent stake in Indian telecoms carrier Bharti Airtel Ltd for about 95 billion rupees ($1.46 billion) in block deals on Wednesday, according to a term sheet.
The affiliate, Three Pillars Pte Ltd, has put up about 199.9 million shares for sale in a price range of 473-490 rupees each, the term sheet showed.
The price range is a discount of 4.7-8 percent to the stock’s Tuesday closing price of 514.35 rupees on the National Stock Exchange.
UBS is the handling the planned sale.
Like this report? Sign up for our daily newsletter to get our top reports.
Leave Your Comment
8 months ago
Qatar Foundation Endowment (QFE), the investment arm of Qatar’s royal family...
11 months ago
Indian telecoms group Bharti Airtel Ltd has launched a sale of a 3.7 percent...
5 years ago
Bharti Airtel, the world’s fourth-biggest cellular carrier by customers, is...