An undisclosed investor is selling about 24 million shares, or about a 4.7% stake, in Singapore medical services provider Raffles Medical (RAFG.SI) for $2.26 per share, sources familiar with the matter said.
Raffles Medical shares fell as much as 6.2% on Friday. At midday, the stock was down 4.5% at $2.32 on a volume of 26.4 million shares.
An undisclosed investor is selling about 24 million shares, or about a 4.7% stake, in Raffles Medical (RAFG.SI), a Singapore medical services provider, for $2.26 per share, sources familiar with the matter said.
Raffles Medical shares fell as much as 6.2% on Friday. At 12:42 p.m., the stock was down 4.5% at $2.32 on a volume of 26.4 million shares.
UBS is handling the deal, according to the sources.
UBS declined comment and the comp[any was not immediately available.
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Singapore healthcare companies Parkway Holdings (P27.SG) and Raffles Medical (R01.SG) should post strong results for the March quarter thanks to improving fundamentals says Credit Suisse according to Dow Jones Newswires.
It is maintaining its “overweight” sector call and tipping companies to benefit from increased inpatient admissions, rise in revenue intensity and margin accretion.
