Announcement by HDFC AMC

RNS Number : 9122X

Standard Life Aberdeen plc

29 November 2017

 

Standard Life Aberdeen plc ("Standard Life Aberdeen" or "the Company")

Proposed IPO of HDFC Asset Management Company Limited ("HDFC AMC")

The Company notes that on Thursday 30 November 2017, the Board of Directors of HDFC AMC approved an enabling resolution for an initial public offering ("IPO") of HDFC AMC. 

It is anticipated that the IPO of HDFC AMC will be by way of an offer for sale of its shares by Housing Development Finance Corporation Limited ("HDFC Limited") and Standard Life Investments Limited ("SLI"), such that HDFC Limited and SLI maintain a post IPO shareholding of at least 50.01% and 24.99% respectively.   

The IPO is subject to relevant regulatory and other necessary approvals.

Standard Life Aberdeen, HDFC Limited and HDFC AMC also confirm that it is their intention to enter into a Collaboration Agreement to work together in developing new products in India and more widely which will further enhance their successful long-term relationship.

Standard Life Aberdeen notes that the announcements being made today are positive steps in the further development of HDFC AMC and demonstrate the ongoing commitment of Standard Life Aberdeen and HDFC Limited to its future success.

30 November 2017

Enquiries:

Institutional Equity Investors Jakub Rosochowski Neil Longair	[phone]* [phone] [phone]* [phone]
Media Katy Hetherington	[phone]* [phone]
Group Secretariat Paul McKenna	[phone]*

* Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.

LEI: OTMBS544NMO7GLCE7H90

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State

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