Fortis Healthcare gains over 1% on fund raising plans
The company has started the process of divesting its primary care chain in Hong Kong, Quality Healthcare, and some leading hospital chains.
By ET Online | Updated:
NEW DELHI: Fortis Healthcare Ltd surged over 1 per cent in a weak market on Thursday, after country's largest hospital chain, may sell its Vietnam and Hong Kong arms for $380-400 million, or around Rs 2,100 crore.
At 09:35 a.m.; Fortis Healthcare was trading 1.05 per cent higher at Rs 91. It hit a low of Rs 90.55 and a high of Rs 92.50 in trade today.
According to an ET report, Fortis has received an unsolicited bid of $80 million from Singapore-based Richard Chandler Corporation for its 65 per cent stake in Fortis Hoan My Corporation (the Vietnamese unit).
“Only last month, the hospital chain, owned by billionaire brothers Malvinder Singh and Shivinder Singh, completed the sale of its Australian subsidiary Dental Corporation for around $263 million,” added the report.
The company has started the process of divesting its primary care chain in Hong Kong, Quality Healthcare, and some leading hospital chains and financial investors have shown keen interest in the asset. "The deal for Quality Healthcare is expected to be valued between $280 and $320 million," said one of the persons quoted in the report.
At 09:35 a.m.; Fortis Healthcare was trading 1.05 per cent higher at Rs 91. It hit a low of Rs 90.55 and a high of Rs 92.50 in trade today.
According to an ET report, Fortis has received an unsolicited bid of $80 million from Singapore-based Richard Chandler Corporation for its 65 per cent stake in Fortis Hoan My Corporation (the Vietnamese unit).
“Only last month, the hospital chain, owned by billionaire brothers Malvinder Singh and Shivinder Singh, completed the sale of its Australian subsidiary Dental Corporation for around $263 million,” added the report.
The company has started the process of divesting its primary care chain in Hong Kong, Quality Healthcare, and some leading hospital chains and financial investors have shown keen interest in the asset. "The deal for Quality Healthcare is expected to be valued between $280 and $320 million," said one of the persons quoted in the report.
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