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Standard Life Aberdn (SLA)

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Wednesday 14 August, 2019

Standard Life Aberdn

Sale of shares in HDFC Life

RNS Number : 9923I
Standard Life Aberdeen plc
14 August 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, 14 August 2019, SLMH06, a wholly owned subsidiary of the Company, sold 67,100,0001 shares in HDFC Life (the "Shares") on the National Stock Exchange of India Limited and BSE Limited.

 

The Shares were sold at an average price of Rs 480.701 which will result in SLMH06 receiving approximately Rs 32.0bn (£374m2), net of taxes and expenses, from the sale.

 

The Shares sold constituted 3.33% of the paid-up, issued equity share capital of HDFC Life and SLMH06's remaining shareholding in HDFC Life is now 19.69%, based on the paid-up, issued equity share capital.  Based on the current share price of Rs 504.053, the value of this remaining shareholding would be approximately Rs 200bn (£2.3bn2). 

 

 

14 August 2019

 

 

1 Based on current trade data available, final contract amounts and price will be confirmed by the stock exchanges after market close on 14 August 2019

2 Based on INR|GBP exchange rate of 85.5

3 Based on HDFC Life share price on the National Stock Exchange of India at 10.20am IST on Wednesday, 14 August 2019

 

 

 

Enquiries:

 

Institutional Equity Investors

Jakub Rosochowski

 

 

Neil Longair

 

 

+44 (0) 131 245 8028*

+44 (0) 7515 298 608


+44 (0) 131 245 6466*

+44 (0) 7711 357 595

Media

James Thorneley 

 

+44 (0) 7768 556 334

 

Group Secretariat

Paul McKenna

 

+44 (0) 131 245 1168*

 

 

* 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

 


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