Healthway Medical to delist after close of exit offer
Renald Yeo
HEALTHWAY Medical will be delisted from the Catalist board of the Singapore Exchange, following the close of OUE Healthcare ’s (OUEH) exit offer on Thursday (Oct 26).
The date and time of delisting will be announced “in due course”, OUEH said.
As at 5.30 pm on Thursday, OUEH Investments – a special-purpose vehicle incorporated for the purpose of the exit offer – and its concert parties had a resultant shareholding of around 68.5 per cent of the total number of Healthway Medical shares.
OUEH Investments had on Oct 13 received a letter from Singapore Exchange Securities Trading (SGX-ST) indicating that “the SGX-ST has no objection to the delisting, subject to certain conditions which have been met”.
Healthway Medical, which was incorporated in 1990, has more than 100 clinics in Singapore. They include general practitioner and family medicine clinics, along with those providing dental and allied healthcare services. The company made its debut on the Catalist board on Jul 4, 2008.
OUEH had in July said that the offer – at S$0.048 per share – would enable the group to “harness potential synergies” with Healthway Medical.
Shares of OUEH closed unchanged at S$0.028 on Thursday, while Healthway Medical’s counter climbed 38.2 per cent, or S$0.013, to S$0.047.
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