 "Fortis Healthcare soars on stake sale plan in Radlink")
Fortis Healthcare has soared 12% to Rs 174 on the NSE after the company said its Singapore-based arm will offload 100 % stake in RadLink for SGD 111 million (approx. Rs 530 crore) to Fullerton Healthcare Group.
Fortis Healthcare International, a step-down subsidiary of Fortis Healthcare, announced its decision to divest 100% shareholding in RadLink-Asia and its subsidiaries, RadLink, Singapore, the company said in a statement.
The deal will be completed by May 12. J. P. Morgan and Religare Capital Markets acted as financial advisors for this transaction.
RadLink is engaged in the provision of healthcare services, including the provision of outpatient diagnostic and molecular imaging services in Singapore.
The stock opened at Rs 159 and touched high of Rs 178 on the NSE. Till 1518 hours, a combined 3.87 million shares changed hands on the counter on the NSE and BSE.
Fortis Healthcare International, a step-down subsidiary of Fortis Healthcare, announced its decision to divest 100% shareholding in RadLink-Asia and its subsidiaries, RadLink, Singapore, the company said in a statement.
The deal will be completed by May 12. J. P. Morgan and Religare Capital Markets acted as financial advisors for this transaction.
RadLink is engaged in the provision of healthcare services, including the provision of outpatient diagnostic and molecular imaging services in Singapore.
The stock opened at Rs 159 and touched high of Rs 178 on the NSE. Till 1518 hours, a combined 3.87 million shares changed hands on the counter on the NSE and BSE.