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abrdn PLC - Edinburgh-based investment company - Says wholly owned subsidiary abrdn (Mauritius Holdings) 2006 Ltd, or amH06, sells 43.0 million shares in HDFC Life Insurance Co Ltd, representing 2.0% stake, for around £262 million.
‘The proceeds will further strengthen the company's capital resources supporting investment in the business and enabling the company to continue to return capital in excess of business needs,’ abrdn explains.
amH06 now holds a 1.7% stake in Mumbai-based long-term life insurance provider HDFC Life Insurance, worth around £227 million.
HDFC Life Insurance shares are listed on the National Stock Exchange of India Ltd and the Bombay Stock Exchange Ltd.
Current stock price: 153.80 pence, down 0.7% in London on Tuesday
12-month change: down 40%
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