’s wholly-owned subsidiary, Sunway City Sdn Bhd (SunCity), is disposing of shares in 10 medical-related companies for RM683.36mil as part of its reorganisation exercise.
In a filing with Bursa Malaysia, Sunway said SunCity had entered into a share purchase agreement with Sunway Healthcare Holdings Sdn Bhd (SHH), a wholly-owned subsidiary of SunCity, for the disposal of the companies.
Sunway said the RM683.36mil will be fully satisfied by the allotment and issuance of 489,269,588 ordinary shares at an issue price of RM1.3967 per share in the share capital of SHH to SunCity.
An analyst said it would make sense to park all of the medical-related companies under SHH, which is primarily involved in the healthcare business.