Fortis Healthcare (India) is planning to raise $500 million by spinning off some of its properties into a real estate investment trust (REIT), The Wall Street Journal reports. The hospital-chain operator plans to list the REIT in Singapore. The company has appointed Nomura Holdings, Royal Bank of Scotland, Standard Chartered and Religare Enterprises to manage the issue. The REIT is likely to be in place as early as the third quarter.
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