Healthway Medical loses free float; pending application to delist
Mia Pei
THE total number of issued shares of Healthway Medical held in public hands is less than the 10 per cent free float requirement, said the company on Thursday (Oct 12).
This is based on the aggregate number of three billion shares, or 65.3 per cent of the total shares, held by OUE Healthcare and its concert parties as at 6 pm on Tuesday.
Healthway Medical also noted that OUEH Investments intends to delist the company, regardless of the acceptance level of the exit offer. The offeror does not intend to lift a potential trading suspension, either.
OUEH Investments’ privatisation offer turned unconditional in all respects on Sep 28.
The delisting application was made on Oct 3, and the company will update on the outcome in due course.
The exit offer of S$0.048 per offer share will remain open for acceptance until 5.30 pm on Oct 26, which OUEH Investments will not extend. Any applications received after the closing time will be rejected.
Shares of Healthway Medical last traded on Wednesday at S$0.047.
Copyright SPH Media. All rights reserved.
