Indian hospital chain Fortis Healthcare is planning to launch a Real Estate Investment Trust (REIT) and to list it in Singapore, said Yogesh Sareen, Chief Financial Officer of Fortis.
“This is under active evaluation. We don’t have a clear timeline on that or a clear ‘yes’ or ‘no’ on that,” he said.
He noted that by consolidating property assets in a REIT and raising funds by divesting its stake will help the company “grow faster with the same amount of capital”.
According to Reuters in September, Fortis was planning to list a REIT in Singapore with a total valuation of between US$600 million and US$700 million.
However, Shivinder Singh, Managing Director of Fortis, said the company has yet to decide on how much to raise through divesting its stake in the REIT.