Parkway

Fortis Healthcare is raising a total of Rs31.3bn or $941m via a Rs27.5bn issue of new shares and a Rs3.8bn share placement of 22.35m shares at Rs170 apiece to GIC. The proceeds will help bolster its warchest should the healthcare group decide to counter-bid for Parkway Holdings, which is currently the subject of a $3.78 a share partial takeover by M’sian sovereign wealth fund Khazanah, which will take its stake uo to 51.4% from 24.1%. Fortis currently holds a 23.9% stake in Parkway.