Sep 19, 2015 (LBO) – Asiri Hospital Holdings will sell new shares to Actis Investment Holdings, a private equity firm, for 845.7 million rupees, the company said in a statement.
The funds will be used to raise its stake in Central Hospital from 68 percent to 99.7 percent, the company said in a stock exchange filing
The share issue is subject to shareholder and stock exchange approval.
“Asiri Hospital Holdings is to issue 38.4 million ordinary shares of the company by way of a private placement to Actis Investment Holdings at 22 rupees each which will constitute 3.38 percent of the company after the issue,” it said.
“The share issue will be used to part fund the acquisition of almost 68 million ordinary shares of Central Hospital.”