ICICI Bank, Fairfax to pare stakes in ICICI Lombard IPO: Reuters
India's ICICI Bank Ltd and Canada's Fairfax Financial Holdings Ltd will pare their stakes in joint venture insurer ICICI Lombard General Insurance Co Ltd's planned initial public offering of shares, Reuters reported. While the size and other details of the IPO will be decided at a future date, ICICI Lombard said the two shareholders had informed it of their intention to sell part of their holdings. Fairfax will own 22.1 percent of the insurer after its planned sale of a 12.2 percent stake in ICICI Lombard to an affiliate of Warburg Pincus and two other investors is completed.
5 June 2017•1 min read
