Hong Kong: Mortgage company PNB Housing Finance Ltd is seeking to raise up to $450 million in an initial public offering, IFR reported on Tuesday, citing a term sheet of the transaction.
PNB Housing, owned by Punjab National Bank and private equity firm Carlyle Group LP, is looking to sell between 38.7 million and 40 million new shares in an indicative range of Rs 750-775, added IFR, a Thomson Reuters publication. That would put the IPO at up to Rs 3,000 crore ($450 million).
($1 = 66.5919 Indian rupees)
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