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Standard Life Aberdeen to sell another chunk of HDFC stake

Tue, 3rd Dec 2019

Standard Life Aberdeen said it planned to sell another portion of its stake in Indian insurer HDFC for at least 24.07bn Indian rupees, or around £258m, assuming the maximum number of shares in the offer were sold. The shares being sold would constitute a 4.04% stake in the company and their sale would reduce Standard Life Aberdeen's stake to 25.89%. The floor price for the offer was 3170.0 rupees per share. The offer would comprise a base offer, that would raise around £142m based on the floor price, plus additional shares, worth around £116m based on the floor price. At 1:13pm: (LON:SLA) Standard Life Aberdeen share price was -1.9p at 308.1p Story provided by StockMarketWire.com

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