6 Aug 2018 13:01
Standard Life Aberdeen plc ("the Company")
Listing of HDFC Asset Management Company Limited ("HDFC AMC")
The Company notes that on Monday, August 6, 2018, HDFC AMC listed on the National Stock Exchange of India Limited and The Bombay Stock Exchange Limited following completion of the Initial Public Offer ("IPO").
Through the IPO, Standard Life Investments Limited ("SLI") sold 16,864,585 equity shares in HDFC AMC for a total consideration of approximately Rs.16,212m (c£180m), net of tax and expenses.
SLI's shareholding in HDFC AMC now stands at 63,650,615 equity shares or 30.03% of the issued equity share capital of HDFC AMC. Based on today's closing share price of Rs.1,815.25 the value of this remaining shareholding is approximately Rs.115.5bn (c£1.3bn1).
Together with our 29.28% shareholding in HDFC Standard Life Insurance Company Limited ("HDFC Life"), which successfully listed last year, the combined value of our stakes in associate businesses in India is approximately £4.5bn 1,2.
6 August 2018
1 Based on INR|GBP exchange rate of 88.9974
2 Based on HDFC Life share price of Rs. 484.10
Enquiries:
Institutional Equity Investors Jakub Rosochowski
Neil Longair
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+44 (0) 131 245 8028* +44 (0) 7515 298 608 +44 (0) 131 245 6466* +44 (0) 7711 357 595 |
Media Katy Hetherington |
+44 (0) 131 245 2283* +44 (0) 7841 344 374
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Group Secretariat Paul McKenna |
+44 (0) 131 245 1168*
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LEI: OTMBS544NMO7GLCE7H90
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