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SINGAPORE, Oct 10 (Reuters) - Religare Health Trust will raise S$511 million ($416 million) after pricing its initial public share offer in Singapore below the middle of an indicative range, two sources with direct knowledge of the matter said on Wednesday.
The deal was priced at S$0.90 per unit, which compared with a price range of S$0.88 to S$0.97 given in a prospectus last month, the sources said.
Religare Health, which is structured as a business trust, has a mandate to invest in medical and healthcare assets and services in Asia, Australasia and emerging markets and will own hospital-related assets managed by India-listed group Fortis Healthcare Ltd .
The final price indicates a prospective dividend yield of 8.95 percent, one of the sources said.
CIMB , DBS , Nomura Holdings , Religare Capital Markets and Standard Chartered are joint bookrunners for the IPO with Citigroup as joint lead manager.
($1=1.2293 Singapore dollars)
(Reporting by Saeed Azhar; Editing by Greg Mahlich)
Keywords: RELIGARE IPO/