Healthway Medical Corporation to delist from SGX-ST

OUEH Investments has proposed a conditional exit offer of $0.048 per offer share in cash.

OUEH Investments, through OCBC Bank, has proposed a conditional exit offer of $0.048 per offer share in cash to delist Healthway Medical Corporation (HMC) from the Singapore Exchange Securities Trading Limited (SGX-ST).

OUEH Investments holds more than 50% of HMC’s shares.

OUE Healthcare Limited, the parent company of OUEH Investments, said the maximum number of offer shares that its subsidiary can acquire will be 1,376,876,184 offer shares or 30.36% of the total number of issued shares

“This translates into a total consideration of up to approximately $66.1m,” said OUEH in a bourse filing.

“The exit offer is a milestone step for OUEH in our journey to build an integrated and seamless regional healthcare ecosystem centred on Singapore’s renowned medical excellence,” OUEH Chairman Lee Yi Shyan said.

OUEH said both the exit offer and proposed delisting of HMC are “conditional,” upon approval of the latter’s shareholders.

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