Lippo's Gentle Care bumps up HMC stake to 49.6% after offer's close

LIPPO-LINKED Gentle Care Pte Ltd now holds a 49.6 per cent stake in Healthway Medical Corporation (HMC) after the close of the cash offer for the latter's shares, it said in a Singapore Exchange filing on Wednesday night.

This is up from the 8.65 per cent stake it held previously. The group had received valid acceptances representing 11.94 per cent of the total number of shares in the company by the time the offer closed at 5.30pm on May 12.

The deal also brings Lippo's deemed interest in HMC to 54.39 per cent, up from 13.44 per cent before the offer.