Sale of shares in HDFC Life

RNS Number : 4641M

Standard Life plc

28 July 2017

 

Standard Life plc ("Standard Life")

Sale of shares in HDFC Standard Life Insurance Company Limited ("HDFC Life") by Housing Development Finance Corporation Limited ("HDFC Limited") and Standard Life (Mauritius Holdings) 2006 Limited ("MH06")

Standard Life notes that in connection with the proposed initial public offering of HDFC Life ("IPO"), the board of directors of MH06 has today approved the offer for sale by MH06 of up to 108,581,768 equity shares of HDFC Life in the IPO.  Standard Life further notes HDFC Limited's announcement today that it intends to offer for sale up to 191,246,050 equity shares of HDFC Life in the IPO.

These offers are in proportion to MH06's and HDFC Limited's respective shareholdings in HDFC Life, with MH06 offering up to 5.43% and HDFC Limited offering up to 9.57% of HDFC Life's equity shares representing, in aggregate, up to 15% of the paid-up equity share capital of HDFC Life as at 28 July 2017. 

28 July 2017

Enquiries:

Institutional Equity Investors Jakub Rosochowski Neil Longair	[phone]* [phone] [phone]* [phone]
Media Graeme McEwan	[phone]* [phone]
Group Secretariat Kenneth Gilmour	[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

END

 

END

 

 

MSCLLFEFDRITFID