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India-based health trust seeks $511m in Singapore IPO.

 Religare Health Trust (RHT) on Monday launched its Singapore Exchange listing, making it the first India-based health-care business trust in the market here. The trust priced its debut at 90 cents and plans to raise about $511 million from the initial public offering (IPO).

 
Most of the 567.45 million units it launched were placement shares meant for institutional investors, with just under 5 per cent set aside for retail investors.
 
But the chief executive of RHT's trustee-manager, Mr Ravi Mehrotra, said he expects there will be ample retail demand for the trust's units.
 
"Health care in India is a growing market because of the large and growing population and changing demographics. Coupled with the growing Indian economy and rising affluence, this is something we're hoping to capitalise on," he said in an interview with The Straits Times. The success of the recent IPO of IHH Healthcare shows the level of investor appetite for such investments, Mr Mehrotra said.
 
(Source: Straits Times)
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Religare Health Trust (RHT)