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Thursday, October 17th, 2019

S'pore Rowsley to buy healthcare assets from M'sia and S'pore

by July 18, 2017 General

SINGAPORE: Rowsley Ltd, a Singaporean real estate firm, said it planned to buy healthcare assets from its controlling shareholder for up to S$1.9 billion ($1.4 billion) to help diversify its portfolio.

Rowsley signed a non-binding term sheet to buy 100 percent of Singapore hospital operator Thomson Medical Pte Ltd and a 70.36 percent stake in Malaysia’s TMC Life Sciences Berhad from Lim Eng Hock.

Lim indirectly owns a 45.34 percent stake in Rowsley.

The proposed deal will be financed by issuing new shares of S$0.075 apiece, the company said in a statement on Tuesday.

Trading in Rowsley’s shares, which have a market capitalisation of about $253 million, has been halted since Monday.

The stock last traded at S$0.073. ($1 = 1.3661 Singapore dollars) – Reuters