SINGAPORE (Sept 22): Shares in International Healthway Corporation (IHC) jumped by as much as 21% to 12 cents on Tuesday, a day after the integrated healthcare services and medical facilities development group announced the revised terms for its proposed acquisition of Healthway Medical Corporation (HMC).

By 12.12pm, IHC had risen 14% to 11.3 cents. Some 106.4 million shares changed hands, making IHC the most actively traded counter on the bourse. HMC was 11% higher at 3.1 cents, with 53.4 million shares traded.

In the revised proposal, the consideration for each HMC share is 10 cents and will be satisfied through the issue of new shares in IHC at an issue price of 43 cents. No cash will be paid to HMC shareholders. Each HMC shareholder will be entitled to 10 consideration shares for every 43 HMC shares. Once the acquisition goes through, HMC will be delisted.