Religare Health Trust RHT will raise $416 million from its initial public offering in Singapore after fixing the price at S$0.90 per share.
With one day to go of the institutional bookbuilding, the bookrunners told investors that the deal was likely to price around the mid-point, but the final price is actually more towards the low end of the S$0.88 to S$0.97 range. Sources said the issuer could have priced higher, but decided to be generous as it is very keen for the stock to trade well.
RHT, which manages a portfolio of hospitals and is listing as a business trust, is scheduled to start trading...
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