SINGAPORE: Units of Religare Health Trust, which owns hospital-related assets,
fell as much as 2.8 percent below its initial offering price in its market
debut on Friday.
By 0403 GMT, Religare's units were
traded at S$0.88, compared to an IPO price of S$0.90. The trust, whose assets
are managed by Indian hospital group Fortis, raised S$511 million through the
IPO.
Religare has a mandate to invest
in medical and healthcare assets and services in Asia, Australasia and emerging
markets. CIMB, DBS, Nomura Holdings, Religare Capital Markets and Standard
Chartered are joint bookrunners for the IPO with Citigroup as joint lead
manager.
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