HealthBank shareholders to sell 26.38% stake to new investor

The group's CEO plans to sell 6,361,000 shares for $1.19m.

HealthBank Holdings Limited said two of its substantial shareholders, including CEO and executive director Peng Fei, and Feng Li, have entered into separate sale and purchase agreements with Pu Guofei on 21 January.

A total of 28,966,000 ordinary shares are subject to sale by Feng and Peng, representing about 26.38% of the company’s issued share capital based on 109.8 million shares in issue, according to a bourse filing.

Peng will sell 16,361,000 shares for $1.19m, representing about 14.9% of the issued shares, whilst Feng will sell 12,605,000 shares, or about 11.48%, for $920,165.

Upon completion, Pu will hold 28,966,000 shares and become HealthBank’s controlling shareholder.

Whilst Peng and Feng will both cease to be substantial shareholders, Peng is expected to stay as both executive director and CEO of the company.

The company said the sale was conducted on a willing-buyer, willing-seller basis for investment realisation purposes and remains subject to SGX conditions.

HealthBank added that further announcements will be made in accordance with SGX Catalist rules and the Securities and Futures Act.

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