China's Fosun International has sold a large part of its stake in online travel company ixigo to Invesco's Emerging Market Innovators Fund for $15 million, three sources with knowledge of the development said.
The stake sale came after the online travel company filed its draft prospectus with the Securities and Exchange Board of India (Sebi) in August.
As per the draft prospectus filed with the capital markets regulator, Fosun Kinzon Capital Pte Ltd held 3.69% stake in ixigo. "The fund has sold most of its stake in the company and now holds a miniscule 0.5% stake," one person said.
The secondary sale values ixigo at $470 million, another person added.
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