MacRitchie to sell up to $200 million stake in India's PB Fintech, term sheet shows

MacRitchie Investments, a Singapore-based holding company linked to Temasek, plans to sell up to $200 million worth of shares in PB Fintech through a block deal. The transaction covers up to 11.9 million shares, about 2.6 percent of outstanding stock, at a floor price of 1,604 rupees per share, a 4.6 percent discount to the last close of 1,682.10 rupees. The trade is expected on July 3 with settlement on July 6, and MacRitchie will face a 60-day lock-up on its remaining 6.48 percent stake of 29.9 million shares.