【Religare RF1U 交流专区】 Religare保健信托 RELIGARE HEALTH TRUST

icy97

Religare 保健信托下周开始为其在新加坡的5亿元IPO计划进行预售
http://www.sharesinv.com/zh/articles/33966/

文： 道琼斯通讯社 （译：麦美莹） 2012年09月07日 道琼斯通讯社
印度保健集团为计划在新加坡首次公开售股(IPO)而试探投资者的兴趣，而怡保花园房地产投资信托(IGB REIT)则把其马来西亚IPO计划的招股价定在意向价格的上限，这两个IPO是最近一连串在东南亚国家举行大型集资活动的一部份，令东南亚今年成为全球十分活跃的IPO市场。

熟知内情的人士在9月6日透露，由印度上市医院集团富斯保健(Fortis Healthcare) 支撑的Religare保健信托(Religare Healthcare Trust)计划在下星期中开始进行预售，来为其高达5亿元的IPO计划试探投资者的兴趣。

新加坡及马来西亚成为了越来越受欢迎的上市地点，尤其是后者。今年在马来西亚上市的大型IPO包括在6月上市、集资31亿美元的国营油棕种植商土展局全球创投(Felda Global Ventures Holdings)及在7月上市、集资20亿美元的综合保健控股(IHH Healthcare)，后者也同时在新加坡上市。

研究机构Dealogic指出，由于马来西亚政府向来都大力投资于上市公司及经济稳健，让它成为了受欢迎的上市热点，并从去年的第13位跳升至第3位，紧随美国及中国之后，还胜过去年在第一位的香港交易所，后者在今年跌至第4位， 这都是拜土展局全球创投及综合保健控股所赐。

Religare保健信托将会是第二家在新加坡上市的印度公司。Indiabulls房产信托(Indiabulls Properties Investment Trust)在2009年来新加坡上市，并筹集到1亿6,500万美元。

事实上，在Religare保健信托提出上市之前，另一家由亿万富翁Anil Ambani拥有的印度公司信实电信(Reliance Communications)也计划把子公司在本地上市。信实电信后来在7月把子公司(持有信实的海底电缆资产)来新上市的计划(价值10亿美元)取消，理由是市场情况疲弱。

熟知内情人士透露，Religare 将会通过一个商业信托在10月份于新加坡交易所上市。公司正在寻找基石投资者来让上市计划得以成功。基石投资者通常会在公司开始向机构及散户投资者出售股票前，便承诺投资于公司。

另一个熟知内情人士早前透露，在印度拥有超过12家医院的Religare通过商业信托在新加坡上市，将有助其建立区域医疗保健品牌的声誉，

由亿万富翁兄弟Malvinder 及Shivinder Mohan Singh控制的富斯保健集团不愿意作出评论，而Religare则暂时无法联络得上。

另外，熟知内情的人士说，怡保花园REIT把售给机构投资者的招股价定在1.25令吉，是意向价格(1.15令吉至1.25令吉)的上端，并已经筹得8亿3,750万令吉。

黄氏星展管理的投资主任David Ng(管理超过160亿令吉资产)说：“对怡保花园REIT的强劲需求反映了在一个增长缓慢及低息环境中，投资者对收益及高派息股的渴求。”他不愿意透露其公司是否有竞投怡保花园REIT的股票。

怡保花园REIT拥有位于吉隆坡的环球大型购物商场谷中城美佳广场 (Midvalley Megamall)，它计划在9月21日于吉隆坡上市，而上市后的市值估计为42亿5,000万令吉。

供机构投资者购买的股票大约为4亿6,900万股，而供散户投资者购买的部份为2亿零100万股。公司早前为散户部份定出的招股价为1.25令吉。

怡保花园REIT的上市计划与去年11月上市的柏威年产业信托(Pavilion Real Estate Investment Trust)类似，后者总共集资7亿1,000万令吉。新加坡嘉德置地(CapitaLand)的子公司嘉德商用大马(CapitaMalls Malaysia Trust)则在2010年上市，筹得8亿5,200万令吉。

icy97

Religare Health Trust seeks as much as $550m in IPO
http://www.theedgesingapore.com/the-daily-edge/business/40217-religare-health-trust-seeks-as-much-as-550m-in-ipo.html

Fri, 28 Sep 20:32  
Religare Health Trust, backed by the assets of India’s second-biggest hospital company Fortis Healthcare, is seeking to raise as much as $550 million in an initial public offering in Singapore.

The business trust plans to sell 567.5 million units at a range of between $0.88 and $0.97 apiece, according to a prospectus lodged with the Monetary Authority of Singapore today. A business trust typically pays out a bigger proportion of its income as dividends than a regular company.

Fortis has hospitals and other health-care centers in 10 countries including Australia, Hong Kong, Sri Lanka, according to its website. The company will invest $1 billion in expanding at home and overseas in the next three years, its chairman Malvinder Singh said in September last year.

Fortis agreed to buy a 65% stake in Vietnamese hospital operator Hoan My Medical Corp. for $78.4 million in August last year, and combined its Indian and overseas operations in January. Last month, the company reported a first quarter loss of 196.1 million rupees ($4.5 million) compared with a profit of 289.4 million rupees a year ago.

The offering will be managed by financial companies including, Standard Chartered, Religare Capital Markets and Nomura Holdings, the prospectus said.

icy97

Religare保健信托将上市集资5亿5,040万元
http://www.sharesinv.com/zh/articles/34531/

2012年10月03日
印度富斯保健集团(Fortis Healthcare)将让旗下Religare保健信托(Religare Health Trust)(RHT)在新交所挂牌上市，通过以每单位0.88至0.97元之间的单位价发售约5亿6,750万个单位，从中筹集高达5亿5,040万元的资金。RHT挂牌上市的初步组合将包含遍布印度全国的11个临床设施、两家由它管理和经营的医院及4个将陆续发展的临床设施。截至今年6月30日，RHT的组合包含1,782张可用病床及拥有提供3,197张病床的能力。富斯的保健业务在FY12录得6亿8,500万元营运收入，并在亚太区10个国家经营业务，包括越南及澳洲。富斯将在RHT上市后持有28%的RHT股权。如果富斯或其任何子公司拟脱售任何与医疗保健相关的基建和设施，RHT将享有优先收购权。

启示：RHT在新交所挂牌上市正合时宜，因为印度保健业正蓬勃发展，但印度的保健设施却无法赶上需求增长。印度医药旅游市场料将在2015年达到21亿美元，并料将迎来52万名为求医而来的旅客。

icy97

Religare Health said to raise $511m in Singapore IPO
http://www.theedgesingapore.com/the-daily-edge/business/40492-religare-health-said-to-raise-511m-in-singapore-ipo.html

Thu, 11 Oct 08:56  
Religare Health Trust, backed by the assets of India’s second-biggest hospital company, Fortis Healthcare, priced an initial public offering in Singapore at 90 cents, two people with knowledge of the matter said.

The business trust had offered 567.5 million units at between 88 cents and 97 cents, according to a prospectus filed with the Monetary Authority of Singapore on Sept. 28. At the final price, the company will be raising 511 million dollars.

Religare’s sale was subscribed more than three times, one person said. It comes after Reliance Communications withdrew a US$1 billion IPO of its undersea cable unit in Singapore in July, citing market conditions. Indian companies are looking at overseas markets as IPO volumes drop locally, falling nearly 80% this year, Bloomberg data show.

Infrastructure Leasing & Financial Services, an Indian company whose shareholders include Japan’s Orix Corp. and Abu Dhabi Investment Authority, is planning a US$250 million IPO of its wind power unit in Singapore, three people with knowledge of the matter told Bloomberg in September.

Religare’s initial portfolio comprises 11 clinics, 4 of them still to be developed, and 2 hospitals that it will manage and operate in India, the IPO document states. The company will invest in health care assets globally, it said. A business trust typically pays out a larger proportion of its income as dividends than a regular company does.

Fortis has hospitals and other health-care centres in 10 countries including Australia, Hong Kong and Sri Lanka, according to its website. The company will invest US$1 billion in expanding at home and overseas in the next three years, its chairman Malvinder Singh said last year.

The offering was managed by CIMB Group Holdings Bhd, DBS Group Holdings, Nomura Holdings Inc., Religare Capital Markets and Standard Chartered Plc.

icy97

Religare Health Trust looks inexpensive: Phillip Securities
http://www.theedgesingapore.com/the-daily-edge/business/40598-religare-health-trust-looks-inexpensive-phillip-securities.html

Tue, 16 Oct 14:08
Religare Health Trust, expected to start trade Oct. 19, appears inexpensive at its $0.90 IPO price, or 1x its book value, Phillip Securities says, noting Ascendas India Trust trades at 1.27x P/B.

It notes the offering will raise around $510.8 million, with proceeds earmarked to fund the initial portfolio of 11 clinical establishments, four greenfield clinical establishments and two hospitals, all geographically diversified across India.

“RHT provides unique value proposition for investors to have exposure to the growing demand of quality healthcare services in India and Asia Pacific. We like RHT’s service fee revenues term structure that offers both downside protection (15 years term with annual escalation of 3%) and upside potential (7.5% of Fortis companies’ operating revenue). In addition, rising affluence in upper middle class segment and underserved Indian healthcare market would benefit RHT.”

It notes forex risk is the main concern, but currency translation is hedged through FY14. RHT’s annualised dividend yield of 9.0% looks appealing amid the current yield-starved period.

icy97

Religare Health falls 2.8% below IPO price in Singapore debut
http://www.theedgesingapore.com/the-daily-edge/business/40679-religare-health-falls-28-below-ipo-price-in-singapore-debut-.html

Fri, 19 Oct 14:15
Units of Religare Health Trust, which owns hospital-related assets, fell as much as 2.8% below its initial offering price in its market debut on Friday.

By 12:03 p.m., Religare’s units were traded at $0.88, compared to an IPO price of $0.90. The trust, whose assets are managed by Indian hospital group Fortis, raised $511 million through the IPO.

Religare has a mandate to invest in medical and healthcare assets and services in Asia, Australasia and emerging markets. CIMB, DBS, Nomura Holdings,Religare Capital Markets and Standard Chartered arejoint bookrunners for the IPO with Citigroupas joint lead manager.

Religare保健信托今天开始交易
http://www.sharesinv.com/zh/articles/34901/

2012年10月19日
Religare 保健信托提前在今天下午2时在新加坡交易所交易。公司在10月18日提交给新交所的文告中表示，它将提前在星期五开始交易，而不是如招股书内所说的10月22日。这家印度公司总共献售每股0.9元的5亿6,750万股。在献售截止日期，公司公布其配售股获得2.3倍的超额认购，而公开给公众认购部份则获得14.5倍的超额认购。公司从这次的首次公开售股中将可以集资5亿1,070万元。公司将利用部分款项来完成从富斯保健集团(Fortis Healthcare)收购的医院(总值7亿4,800万元)；部份用来支付开销及偿还债务；余款用作一般营运资金。Religare保健信托在新加坡交易的名称为“Religare”。

启示: 公司更改交易日期是为了迁就新交所在周末进行的提升系统工程。那些已经申请购买公司股票的投资者可以从今天早上9时起，向有关银行询问他们的申请是否获准。

mariogan

Bid 10 lot，得到 0 lot
唉

mariogan

哇，幸好，一开就跌破IPO价那么多，不然亏死
一开才79仙？

icy97

Religare Health says it hedged against foreign currency risk
http://www.theedgesingapore.com/the-daily-edge/business/40698-religare-health-says-it-hedged-against-foreign-currency-risk-.html

Mon, 22 Oct 18:37  
Religare Health Trust, which started trading in Singapore on Oct. 19, said it has hedged against foreign currency risks.

“The trust has put in place forward contracts to hedge its Indian rupee cash flows into Singapore dollar thereby mitigating the currency risk and consequent risk to distribution per unit,” it said in an e-mailed statement today.

The fragmented health market in India also offers opportunities as it seeks acquisitions in Asia Pacific and emerging markets, the trust said.

Religare, backed by hospitals of India’s second-biggest hospital company, started trading its shares in the Singapore dollar, the best performer among Asia’s 11 most-actively traded currencies. The Singapore dollar has risen 6.1% this year, compared with the rupee’s 0.9% decline, the third- worst performer.

Phillip Securities said in an Oct. 16 report that foreign exchange risk is the main concern for the trust. The brokerage also said Religare has forward contracts to hedge the currency for the next two years.

The trust, backed by hospitals of Fortis Healthcare, jumped 3.1% to 83.5 cents at the close in Singapore today, erasing an earlier loss of as much as 6.2%. The benchmark Singapore Straits Times Index dropped 0.1%. The stock slumped 10% in its trading debut on Oct. 19.

icy97

DBS starts Religare Health Trust at 'buy'
http://www.theedgesingapore.com/the-daily-edge/business/41372-dbs-starts-religare-health-trust-at-buy.html

Wed, 28 Nov 13:29
DBS Vickers initiated coverage of Religare Health Trust with a ‘buy’ rating and a target price of $0.97, citing an attractive dividend yield and exposure to the fast-growting Indian healthcare sector.

By 12:02 p.m., Religare Health shares were up 3% at $0.82, but still 8.9% lower than the initial public offer price of $0.90. Religare Health made its market debut last month.

The brokerage expects Religare Health, which has 17 assets and is backed by India’s healthcare services provider Fortis Healthcare, to pay a distribution yield of around 10% at its current price, and is structured to offer upside potential through variable fees.

As 96% of Religare Health’s assets are operational, distribution income can be sustained till 2014, providing assurance that it will be able to meet DBS’ distribution per unit forecasts, it said in a report.

“Healthcare industry outlook in India looks promising,” DBS said, citing Frost and Sullivan’s estimates that the market will grow at an annual average rate of 15% from 2010-2015 on the back of rising and aging population and growing affluence.

leeccg

相信有不错的回筹，target price 0.9 . 先赚它两次的利息。然后才考虑要不要卖

kxbszleo

analyst 开始cover,股价这两天开始向上动了

fbb05

leeccg 发表于 29-11-2012 11:40 AM
相信有不错的回筹，target price 0.9 . 先赚它两次的利息。然后才考虑要不要卖

什么时候派息？

leeccg

fbb05 发表于 1-12-2012 10:06 PM
什么时候派息？

才刚上不久，没那么快吧。。。反正也是长期投资，不急

icy97

印度联通保健信托备受看好，其股价继而攀升
http://www.sharesinv.com/zh/articles/35966/

2012年12月03日
印度联通保健信托(Religare Health Trust)今天以0.835元高开，比其在11月30日闭市时的0.83元高出0.005元。公司的股价在上周升了4.4%，自它在10月19日挂牌上市以来，其股价一直以低于0.90元的招股价交易，由于总体市场情绪冷淡，投资者对印度保健市场不熟悉及外汇风险令投资者止步。但在分析师对公司给予‘表现优于大市’及‘买入’的初步建议后，其股价在上周开始回升。分析师所设定的目标家介于0.95元至0.97元，理由是公司处于快速增长的印度保健市场及具备强劲的增长潜能等等。市场调查公司弗若斯特沙利文(Frost & Sullivan)表示，印度保健市场估计会在2010-2015年之间以15%的年复合增长率增长至1,196亿美元，因为这个全球人口第二大国的人口增加和逐渐老化、疾病种类有所改变及人民日益富裕。公司的母公司是印度第二大医院集团(按市场份额计算)富斯保健集团(Fortis Healthcare)，因此有助提高分析师对公司的信心。

启示：星展唯高达(DBS Vickers)表示，公司股价的获益率约为诱人的10%，其同行的获益率是介于6.8%-8.4%。然而，应该留意的是，印度的条例或有更改等因素及印度卢比兑新元的汇率波动不定。

icy97

Name of Announcer *	RELIGARE HEALTH TRUST
Company Registration No.	N.A.
Announcement submitted on behalf of	RELIGARE HEALTH TRUST
Announcement is submitted with respect to *	RELIGARE HEALTH TRUST
Announcement is submitted by *	Gurpreet Singh Dhillon
Designation *	Chief Executive Officer and Executive Director
Date & Time of Broadcast	02-Aug-2013 18:06:47
Announcement No.	00118

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

Announcement Title *

Date of Release of Financial Results for Quarter ended 30 June 2013

Description

Please see attached. Nomura Singapore Limited, Religare Capital Markets Corporate Finance Pte. Limited and Standard Chartered Securities (Singapore) Pte. Limited (Standard Chartered Securities) were the joint issue managers (Joint Issue Managers) of the Offering. CIMB Securities (Singapore) Pte. Ltd., DBS Bank Ltd., Nomura Securities Singapore Pte. Ltd., Religare Capital Markets (Singapore) Pte. Limited and Standard Chartered Securities were the joint global coordinators, bookrunners and underwriters ("Joint Bookrunners") of the Offering. The Joint Issue Managers and the Joint Bookrunners assume no responsibility for the contents of this announcement.

Attachments

RHT_Date_of_Release_of_1QFY14_results_2Aug13.pdf

icy97

印度联通保健信托的1Q14业绩与预测相符
http://www.sharesinv.com/zh/articles/40834/

2013年08月14日
印度联通保健信托(Religare Health Trust)在截至6月30日的1Q14录得2,800万元总收入，比其招股书内的预测来得高。服务费和医院开支总额略高于预测，由于租赁土地的估值提高及增添设备令折旧开支上升。值得留意的是，营运毛利提高3.4%，由于采取更严谨的成本监控措施。总收入季比则提高1%。供分配收入为1,140万元，稍微低于预测。每单位派息为0.02元，比上个季度高出5.6%。公司的总裁Gurpreet Dhilon表示，公司的业绩证实公司组合能带来稳定收入，公司也将继续通过增添床位来扩充组合，以不断地提高营运毛利。

启示：公司对其在印度医疗保健业的前景依旧乐观。与此同时，它也将继续为其可分配收入作外汇对冲，以确保稳定的派息。

Name of Announcer *	RELIGARE HEALTH TRUST
Company Registration No.	N.A.
Announcement submitted on behalf of	RELIGARE HEALTH TRUST
Announcement is submitted with respect to *	RELIGARE HEALTH TRUST
Announcement is submitted by *	Gurpreet Singh Dhillon
Designation *	Chief Executive Officer and Executive Director
Date & Time of Broadcast	13-Aug-2013 20:48:12
Announcement No.	00231

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

For the Financial Period Ended *

30-06-2013

Description

Please see attached. Nomura Singapore Limited, Religare Capital Markets Corporate Finance Pte. Limited and Standard Chartered Securities (Singapore) Pte. Limited (Standard Chartered Securities) were the joint issue managers (Joint Issue Managers) of the Offering. CIMB Securities (Singapore) Pte. Ltd., DBS Bank Ltd., Nomura Securities Singapore Pte. Ltd., Religare Capital Markets (Singapore) Pte. Limited and Standard Chartered Securities were the joint global coordinators, bookrunners and underwriters ("Joint Bookrunners") of the Offering. The Joint Issue Managers and the Joint Bookrunners assume no responsibility for the contents of this announcement.

Attachments

RHT_Financial_Results_Q12014_13Aug13.pdf

Announcement Title *

Press Release - Religare Health Trust Records Distributable Income of S$11.3 million for 1Q FY2014

Description

Please see attached. Nomura Singapore Limited, Religare Capital Markets Corporate Finance Pte. Limited and Standard Chartered Securities (Singapore) Pte. Limited (Standard Chartered Securities) were the joint issue managers (Joint Issue Managers) of the Offering. CIMB Securities (Singapore) Pte. Ltd., DBS Bank Ltd., Nomura Securities Singapore Pte. Ltd., Religare Capital Markets (Singapore) Pte. Limited and Standard Chartered Securities were the joint global coordinators, bookrunners and underwriters ("Joint Bookrunners") of the Offering. The Joint Issue Managers and the Joint Bookrunners assume no responsibility for the contents of this announcement.

Attachments

RHT_Press_Release_Financial_Results_Q12014_13Aug13.pdf

icy97

印度联通保健信托的2Q14每单位派息提高3.5%
2013年11月13日
http://www.sharesinv.com/zh/articles/42639/

印度联通保健信托(Religare Health Trust)在截至2013年9月30日的2Q14录得比预估低了3.1%的总收入，主要因印度卢比兑新元走弱导致服务收费收入减少。土地在重估后增值及购买医疗设备令1,600万元的折旧额比预估高出23.3%。尽管实际开支与预估有所出入，但派息额与预估相符，为1,170万元，即每单位0.026元。后者比1Q14提高了3.5%。

启示：预期公司的表现将会保持强劲，因其组合内的13所临床设施的住院率不断提高(2Q14为86%，1Q14为78%)。在印度古尔冈的医疗设施于今年5月开业后，公司的床位增至551个。此外，两家位于班加罗尔的医院一直以来都取得比预估更好的季度表现，由于它们的住院率提高及营运毛利上升。

icy97

文： 2014年02月03日 每日头条
http://www.sharesinv.com/zh/articles/44430/

印度联通保健信托（Religare Health Trust)提议以27亿印度卢比(大约5,510万元)购入一座位于印度北部莫哈里(Mohali)的医院。这座位于莫哈里第62区的多元化专科医院可以提供紧急创伤性护理服务，并且是附近多家小型医院的枢纽。


Religare Health Trust in North India hospital deal
Source: Reuters   |   Publish date: Tue, 4 Feb 10:01
http://www.theedgesingapore.com/the-daily-edge/business/47131-religare-health-trust-in-north-india-hospital-deal.html

In a move to strengthen its presence in northern India, Religare Health Trust (RHT) has entered into agreements worth $68.8 million with its sponsor Fortis Healthcare to acquire a hospital facility as well as its related business services and equipment.

"The proposed transactions represent an opportunity for RHT to acquire a clinical establishment that is accredited to international standards in India and which is already operated by a leading hospital operator," RHT said in a regulatory filing yesterday.

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文： 2014年02月13日 每日头条
http://www.sharesinv.com/zh/articles/44734/

印度联通保健信托(Religare Health Trust)的3Q14营业额提高22.5%至2,690万元，由于服务费及其他收入均增加。加上取得200万元的外汇收益，可分配收入上升30%至1,220万元。9M14的可分配收入提高逾两倍至3,530万元，由于收入激增超过两倍至8,130万元。