CLSA to Apollo hospitals interest for $ 135 mn to sell

The sale of shares was launched on Wednesday and the trade will be executed through block deals. Reuters

The price range is a discount of up to 6 percent to Apollo's Tuesday close of Rs 876.60. Indian stock markets were closed on Wednesday for a religious holiday. Apollo stock is 55 percent so far this year.

The sale of shares was launched on Wednesday and the trade will be executed through block deals on Thursday morning, according to a term sheet seen by Reuters.

CLSA, which invested in Apollo in 2008, will join the long list of foreign institutional and private equity funds, which are to benefit from an increase of nearly 22 percent so far this year in the BSE Sensex.

India stock market dropped almost 25 percent last year, making it one of the worst performers worldwide and leaving few options for private equity firms to exit their portfolio companies through IPO or secondary share deals.

Citigroup is the only equity offering for CLSA of game sales deal, the term sheet showed.

Elsewhere in the region launched Goldman Sachs principal investment area a whopping $ 262 million in Chinese car manufacturer Geely car selldown in an indicative range of HK $ 3.30 to HK $ 3.40 apiece, Thomson Reuters publication IFR said.

Other deals included a 189 million dollar sale by UBS in Thai convenience store operator said.

Chinese equipment maker Zhengzhou Coal Mining Machine Group to increase almost 300 million dollars from a put Hong Kong share offering that was launched last week and subject to be priced later on Wednesday.

Reuters

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