The Hindu Business Line : Apollo moots pvt placement

CHENNAI: Apollo Hospitals' governing board has recommended a private placement of five per cent of its equity to Singapore's Temasek Capital (Pvt) Ltd at a price of Rs 246 for each share.

Apollo, which will raise Rs 48.58 crore through the placement, has placed the shares at a premium of 11 per cent to Friday's closing price of Rs 221.60. The board also approved the unaudited results for the first quarter of 2004-05.

The company registered a profit after tax of Rs 10.5 crore (Rs 7.8 crore) in the quarter, hup by 34.61 per cent. The total income was Rs 134.8 crore (Rs 114.2 crore).

Temasek Holdings is an investment holding company for the Singapore Government founded in 1974 to hold the government's investments.

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