Religare Health Trust RHT, a business trust sponsored by India-listed hospital operator Fortis Healthcare, has started bookbuilding for a Singapore initial public offering of up to S$550.4 million $448 million.
The deal could become the second-biggest listing in Singapore this year after Far East Hospitality Trust, which raised $527 million through an IPO in mid-August, and will give Southeast Asia another boost in its quest to beat Hong Kong as the most active region for Asian IPOs this year. Based on the IPO activity in the first nine months of this year, this is a competition that Southeast Asia looks to be winning quite comfortably thanks to...
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