OUELH receives listing and quotation notice for 2.2b new rights shares

OUE Lippo Healthcare has received a listing and quotation notice for 2.2 billion new rights shares for the healthcare company's one-for-one rights offering.

The company, which is raising S$148.8 million in net proceeds to help fund a proposed acquisition of stakes in First Reit and its manager, Bowsprit Capital Corp, will issue the new rights shares at S$0.0675 apiece.

The issue price represents a discount of about 43.8 per cent to the closing price of S$0.12 on Sept 17, the last trading day before the rights issue was announced.

Shares of OUELH last traded at S$0.099 on Thursday morning before the announcement.

OCBC Bank is the sole financial adviser to OUELH for the proposed acquisitions, and the manager and underwriter for the rights issue.