OUE expands into healthcare real estate market
It launched a cash offer for IHC at $0.106 per share.
Integrated property developer OUE Limited announced its intention to launch a mandatory unconditional cash offer for International Healthway Corporation Limited.
The offer is to purchase a further 593,470,029 shares, representing 35.77% of the share capital of IHC.
According to OCBC Investment Research, OUE currently owns a 57.6% aggregate stake in IHC, which makes its offer unconditional.
"Management intends to expand into healthcare real estate which will be a strategic fit to its existing asset portfolio," OCBC noted.
OUE executive chairman Stephen Riady said, "Given the rapidly ageing population in Japan and Asia and the consequent rising demand for healthcare, it is a timely entry into a sector that we see has tremendous growth potential.”
It added, “With OUE’s proven expertise in property development, we can leverage our experience and track record to add value to the quality assets under IHC’s portfolio."