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| Fortis Healthcare plans infusion of fresh equity |
| May 10, 2010 |
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Fortis Healthcare plans infusion of fresh equity To issue 22.35 million shares on preferential basis The issue price of Rs 170 per share represents a 1.4% premium over the closing price of the stock of Rs. 167.70 on NSE today. Post the issue, GIC SI’s affiliated investment vehicle will hold approximately 6.58% of the equity in the Company on an expanded base. The preferential allotment is in accordance with Chapter VI of the SEBI’s ICDR (Issue of Capital and Disclosure Requirements) Regulations 2009 and is subject to the shareholder approval at the Extra-ordinary General Meeting (EGM) to be convened on June 9th, 2010. The entire process of allotment of shares is expected to be completed by 24th June 2010. The amount of Rs 3800 millions infused through the proposed preferential issue will be utilized to finance the recent and future acquisition by the Company and / or its subsidiaries. Religare Capital Markets Ltd (The global investment banking arm of Religare Enterprises Limited) was the sole advisor and arranger to Fortis for the said issue. About Fortis Healthcare Limited Fortis Healthcare Limited is committed to clinical excellence and patient-centric healthcare, which is manifest in hospital design, patient services, medical programmes and the compassionate approach of medical and non-medical hospital staff. Currently, the Fortis network has an over 12000 bed capacity across 48 hospitals in seven countries. Fortis commissioned its first hospital in 2001 at Mohali, near Chandigarh, and has expanded its Indian operations to 46 properties (including 10 projects) in 16 cities across 12 states. The 2010 acquisition of a strategic stake in Parkway Holdings Limited makes Fortis Asia’s largest private healthcare network, now with a presence in Brunei, China, India, Malaysia, Mauritius, Singapore and the UAE. The Fortis network has a large number of international accreditations, including seven JCI (Joint Commission International) and six NABH (National Accreditation Board for Hospitals) certifications. The network’s capability covers multi-speciality hospitals and super-speciality centres that provide tertiary and quaternary healthcare to patients in the major medical specialities. For more information, please visit our website at: www.fortishealthcare.com About GIC SI GIC SI is the private equity and infrastructure investment arm of the Government of Singapore Investment Corporation Pte. Ltd. (GIC). GIC SI’s investment covers a wide spectrum which includes leveraged buyouts, venture capital, growth capital, mezzanine financing, distressed situations, infrastructure and other special situation investments. GIC is a global investment management company established in 1981 to manage Singapore’s foreign reserves. GIC invests internationally in equities, fixed income, natural resource, treasury & currencies, real estate, private equity and infrastructure. For more information, please visit www.gic.com.sq This press release may contain forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent development, information or events, or otherwise. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Company may alter, modify or otherwise change in any manner the content of this press release, without obligation to notify any person of such revision or changes. For further details please contact: Ruhee Dhar Joydeep Chakraborty |
