Health Management International raises $18.5 mil with oversubscribed rights issue

SINGAPORE (March 15): Health Management International (HMI) announced that its recent renounceable non-underwritten 11-for-200 rights issue was 145.7% subscribed, raising gross proceeds of roughly $18.5 million.

HMI’s rights issue was launched on Feb 23 following shareholder approval at its EGM held on Feb 10, where a total of 32,376,432 rights shares were offered at 57 cents per share, on the basis of 11 rights shares for every 200 existing shares held.

The rights shares will be listed and quoted on the SGX Mainboard from Friday at 9am.

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