Lippo converts S$15m worth of Healthway notes into shares

CLINIC operator Healthway Medical Corporation has issued about 443 million conversion shares to a Lippo Group unit that has launched a takeover offer for the company.

These shares were converted from S$15 million worth of convertible notes held by the offeror, Healthway said in a Singapore Exchange filing on Tuesday evening, adding that the conversion expanded its share base from around 2.76 billion to about 3.2 billion shares.

Healthway still has S$45 million worth of convertible notes issued that have not been turned into equity yet and these will be convertible into about 1.33 billion new shares, it said.