Temasek-backed Heliconia acquires 2% stake in HMI through S$11m placement

Singapore

TEMASEK-owned Heliconia Capital Management is acquiring a 2 per cent stake in Health Management International (HMI) through an S$11 million placement, which will help fuel the private healthcare player's expansion efforts.

HMI will issue 16.9 million new ordinary shares at S$0.65 per share to Orchid 2 Investments, a company managed and controlled by Heliconia. The issue price represents a discount of 0.76 per cent to the counter's closing price of S$0.655 on Nov 13 and a premium of 0.9 per cent to the volume-weighted average closing price of HMI shares traded on the Singapore Exchange for the 30-day period ending Nov 13.