India seals $739m from divestment in NTPC

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By John Loh
25 Feb 2016

India raised Rp50.3bn ($739.3m) from a sell-down in NTPC this week as institutional investors pounced on the trade, giving the government’s divestment programme a last minute boost.

The offer for sale of 412.3m secondary shares in India's largest power producer priced at Rp122.05, just a touch above its floor price of Rp122, after bookbuilding for non-retail investors ended on Tuesday.

The transaction punctuated an otherwise deal-starved equity capital market in Asia ex-Japan ex-onshore China, where only 17 ...

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