Sale of Shares in HDFC Life by SLMH06

RNS Number : 5910R

Standard Life Aberdeen plc

30 October 2019

 

Standard Life Aberdeen plc ("the Company")

Sale of shares in HDFC Life Insurance Company Limited ("HDFC Life") by Standard Life (Mauritius Holdings) 2006 Limited ("SLMH06")

The Company notes that on Wednesday 30 October 2019, SLMH06, a wholly owned subsidiary of the Company, sold 100,000,000¹ shares in HDFC Life (the "Shares") on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited.

The Shares were sold at an average price of Rs 575.15¹ which will result in SLMH06 receiving approximately Rs 57.0bn (£622m²), net of taxes and expenses, from the sale.

The Shares sold constituted 4.96% of the paid-up, issued equity share capital of HDFC Life and SLMH06's remaining shareholding in HDFC Life is now 14.74%, based on the paid-up, issued equity share capital.  Based on the current share price of Rs 629.70³, the value of this remaining shareholding would be approximately Rs 187bn (£2.0bn²). 

30 October 2019

¹ Based on current trade data available, final contract amounts and price will be confirmed by the stock exchanges after market close on 30 October 2019

² Based on INR|GBP exchange rate of 91.5201

³ Based on HDFC Life share price on the National Stock Exchange of India at 11.07am IST on Wednesday 30 October 2019

Enquiries:

Institutional Equity Investors Neil Longair	[phone]* [phone]
Media James Thorneley	[phone]
Group Secretariat Paul McKenna	[phone]*

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LEI: OTMBS544NMO7GLCE7H90

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