Singapore-based OUE Lippo Healthcare (OUELH), a subsidiary of investment holding company OUE Limited, plans to raise 148.8 million Singaporean dollars ($109 million) in net proceeds from a renounceable underwritten rights issue.
OUE Lippo Healthcare will issue about 2.2 billion new rights shares at S$0.0675 a piece on the basis of one rights share for every existing share held by entitled shareholders as at book closure date.
The issue price represents a discount of about 43.8 percent to the closing price of $0.09.
OUELH Lippo Healthcare plans to use the proceeds to fund its proposed acquisition of stakes in First real estate investment trust and Bowsprit Capital Corporation.