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Rowsley can raise value by divesting non-core assets

Asked to comment on the deal structure during Rowsley's press conference on Monday, Roy Quek, executive chairman of Thomson Medical Centre, said: "This really is the prerogative of the owner. How he wants to structure his ownership and his shareholding is not something that management should comment on."

To foot the bill, Rowsley will issue Peter Lim (above) 21.4 billion new shares at S$0.075 apiece. This will increase Rowsley's share base to 4.5 times what it is now.

IF BILLIONAIRE Peter Lim had wanted to realise the fullest value for the Thomson Medical healthcare group, an initial public offering (IPO) would have been the cleanest way to structure a deal.

By choosing instead to inject these healthcare assets into Rowsley, the listed firm which he

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