Friday, August 6, 2010

Keck Seng disposes of all Parkway shares, nets RM260m gain

KUALA LUMPUR: Keck Seng (Malaysia) Bhd has resolved to dispose of its entire stake in Singapore-listed Parkway Holdings Limited at S$3.95 per share to Khazanah Nasional Bhd.

Keck Seng said the'' proposed disposal of the 35.58 million shares to Khazanah's Integrated Healthcare Holdings Ltd would raise proceeds of RM327.49 million.

It expects a gain of RM260.14 million from the disposal of the stake when it accepted the offer made by Integrate Healthcare under its July 26 general offer announcement.

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