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Goldman unit launches up to $82 million block deal in Max Financial - terms
February 20, 2017 / 2:32 PM / 7 months ago

Goldman unit launches up to $82 million block deal in Max Financial - terms

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, June 29, 2015. REUTERS/Danish Siddiqui/File Photo

MUMBAI (Reuters) - A unit of Goldman Sachs has launched a block deal to sell up to $82.1 million worth of shares in Max Financial Services Ltd with an upsize option of $41.1 million, a deal term sheet showed on Monday.

The unit, GS Mace Holdings Ltd, is selling up to 10 million shares in Max Financial at a floor price of 550 rupees ($8.22) per share, according to the term sheet seen by Reuters.

The deal can be upsized by up to $41.1 million through the sale of an additional up to 5 million shares, the term sheet showed.

The floor price of the offering is at a 7.52 percent discount to Max Financial’s Monday closing share price of 594.75 on the National Stock Exchange.

($1 = 66.9200 Indian rupees)

Reporting by Manoj Rawal and S. Anuradha of IFR; editing by Susan Thomas

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