- POSTED: 16 Sep 2013 15:28
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Nam See Investment is making a voluntary conditional cash partial offer to acquire 61 million shares in Health Management International (HMI) at S$0.16 per share.
SINGAPORE: Nam See Investment is making a voluntary conditional cash partial offer to acquire 61 million shares in Health Management International (HMI) at S$0.16 per share.
The offer represents a premium of 31.5 per cent to the closing price of the shares on September 13, 2013.
The offer shares represent about 10.57 per cent of the issued share capital of the healthcare services firm.
Nam See and its concert parties currently own a 41.64 per cent stake in HMI.
Should the offer proceed, their interest in the healthcare services firm will increase to 52.21 per cent.
In a filing with the Singapore Exchange, Nam See said it is making the offer to acquire statutory control of the company.
With growing competition in the healthcare sector in Malaysia, Nam See said it will be in a better position to contribute to the group to meet the challenges from increased competition in the healthcare sector in Malaysia where its operations are based.
Nam See currently operates a hospital each in Malacca and Johor in Malaysia.
Singapore-listed HMI has operations in Singapore, Malaysia, Indonesia, Cambodia and Myanmar.