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Private equity (PE) investors have sold a record $9.4 billion worth of shares in the first nine months of the year, against the previous high of $6.6 billion in 2016.
According to the analysis of consultancy firm EY, it comes on the back of $4.8 billion being sold on the stock markets through secondary ($3.4 billion) and primary ($1.4 billion) deals. Prem Watsa-led Fairfax Financial sold a $558 million stake in private-sector general insurance player ICICI Lombard through an initial public offering (IPO) last month. This is the biggest ever exit for a PE through an IPO in India so far.
