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IHH buys 55% stake in Angsana Holdings for S$9.3m
IHH Healthcare Berhad (IHH) has announced that it has subscribed for a 55 per cent equity interest (5,104,849 ordinary shares) in Angsana Holdings Pte Ltd for a total consideration of S$9.3 million.
The subscription was made through its indirect wholly owned subsidiary, Parkway Pantai Limited.
As a result, Angsana and its subsidiaries have been consolidated as indirect subsidiaries of IHH.
The principal activity of Angsana and its subsidiaries is to provide molecular diagnostic test services, including biochemistry, chemistry, haematology and molecular blood analysis and testing.
The transaction will not effect IHH's issued share capital and substantial shareholders, with no material effect on the earnings, net assets or gearing of IHH for the financial year ending Dec 31.