Moneycontrol
Oct 19, 2016 07:35 PM IST | Source: CNBC-TV18

Fortis Health likely to delist from Religare Health Trust: Srcs

Fortis Healthcare may be looking at a mega restructuring plan. The company is planning to delist its stake in Religare Health Trust in Singapore.


Fortis Healthcare may be looking at a mega restructuring plan. The company is planning to delist its stake in Religare Health Trust in Singapore, according to CNBC-TV18 sources.


The market cap of Religare Health Trust is close to USD 700 million and Fortis holds 28 percent stake in it.


So to do the delisting and buying back shares from the publically listed REIT or the health trust Fortis Healthcare may require USD 500 million, which could be raised through equity issuance or even Qualified institutional placement (QIP). However, Fortis Healthcare is evaluating ways to improve cash flow as well as ramping up valuations.

CNBC-TV18 tried reaching out to Fortis Healthcare for their comment but the company said the news is speculative and that there are no such plans. 

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