Asia Opportunities is set to offload 12.9 million shares of PNB Housing Finance in a block sale, seeking to raise approximately $132 million.
Recent Developments:
- Government of Singapore’s Investment: On August 21, the Government of Singapore acquired a 1.4% stake in PNB Housing Finance at an average price of ₹802.5 per share.
- General Atlantic’s Exit: General Atlantic Singapore Fund FII Pte Ltd completely exited its 5.13% stake in PNB Housing Finance at the same price.
- Stock Performance: Following these transactions, PNB Housing Finance’s stock surged by 10.11%, closing at ₹892.85 on the NSE.
The biggest buyers in this transaction included the Government of Singapore, Aditya Birla Sun Life Mutual Fund, Fidelity Investments, Goldman Sachs, Morgan Stanley, and Nomura. Earlier in the previous sale in May, Asia Opportunities V Mauritius and General Atlantic Singapore Fund sold a combined 5.2% stake in the company, valued at around ₹7,500 crore.
General Atlantic had initially invested in PNB Housing Finance during its initial public offering in 2016, acquiring a stake worth ₹467 million.
TOPICS:
PNB Housing Finance