OUE raises stake in IHC to 21.83%

OUE has shored up its stake in International Healthway Corporation (IHC) to 21.83 per cent.

It acquired some 154.13 million shares at 7.7 cents apiece or S$11.87 million on Wednesday.

OUE, which is controlled by Indonesia's Riady family, had picked up an initial 12.54 per cent stake in IHC last month.

"The further acquisition is an investment opportunity for the group, which is undertaken in line with the group's continued objective of enhancing shareholders' value," OUE said in a regulatory filing on Wednesday.

IHC's former parent, Healthway Medical Corporation, has become a takeover target of the Riady family, which has through Hong Kong-listed Lippo and Lippo China Resources launched a cash offer of 4.2 cents a share for Singapore's largest clinic chain.