OUE raises stake in International Healthway Corp to 21.83%

SINGAPORE (Feb 8): OUE says that its wholly owned subsidiary OUE Investments has acquired an additional 9.29% stake in International Healthway Corp.

Following the transaction, the group now holds a 21.83% stake in IHC.

The acquisition is widely seen as a move to protect its interest ahead of an extraordinary general meeting to be convened to vote on the proposed issuance of convertible loan facilities totaling $55 million at a 6% interest rate per annum to the IHC by Oxley Holdings and its controlling shareholders Ching Chiat Kwong and Low See Ching.

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