Econ Healthcare Asia Receives Privatization Offer; Shares Surge 8%
Econ Healthcare Asia has received a privatization offer from Enabler Bidco, which plans to acquire all issued shares through a scheme of arrangement. The offer includes SG$0.330 per share in cash or a combination of SG$0.224 in cash and SG$0.321148 in Enabler Holdco shares. Following the announcement, shares of Econ Healthcare surged nearly 8%.
Enabler Bidco, a special purpose company, has agreed to acquire the entire issued and paid-up shares in Econ Healthcare via a scheme of arrangement, according to a filing with the Singapore Exchange on Friday.
The scheme consideration includes a cash consideration of shares at SG$0.330 per share, or the cash and securities consideration of SG$0.224 per share in cash and SG$0.321148 per Enabler Holdco shares.
The offeror and Enabler Holdco are special purposes vehicles registered in the Cayman Islands for the purpose of the acquisition.
Pursuant to the acquisition, the offeror is looking to delist and privatize the company.
Shares of the aged healthcare provider surged nearly 8% in recent trading.
