Sri Lankaâ€™s Asiri Hospital sells stake to Actis Investment
ECONOMYNEXT – Sri Lanka’s Asiri Hospital Holdings said it will sell new shares to private equity firm Actis Investment Holdings for 845.7 million rupees part of which will be used to raise its stake in Central Hospital Ltd.
Asiri Hospital Holdings is to issue 38.4 million ordinary shares of the company by way of a private placement to Actis Investment Holdings at 22 rupees each which will constitute 3.38 percent of the company after the issue.
Proceeds of the share issue will be used to part fund the acquisition of almost 68 million ordinary shares of Central Hospital Ltd., raising Asiri’s direct stake to 99.7 percent from 68 percent, a stock exchange filing said.
The share issue is subject to shareholder and stock exchange approval. (Colombo/September 18 2015)