Brokerages tell HMI investors to take cash option for clean exit
Shareholders are entitled to either S$0.73 in cash for each HMI share, or one new PanAsia Health share at same price
Vivienne Tay
Singapore
BROKERAGES are recommending that investors of Health Management International (HMI) take the cash offer by management and private equity firm EQT to take HMI private, calling the deal "fair" and a clean exit amid low trading liquidity.
Maybank Kim Eng on Monday downgraded its rating for HMI from "buy" to "hold", believing HMI's share price of S$0.66 prior to the deal fully reflects its fundamental value.
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