The consideration shares issued, which constitute some 24.2% of the enlarged share capital of AHS, were substantially issued to the medical specialists and doctors in the Cornerstone Group. These shares are also partially under moratorium, thereby aligning interests of the involved medical specialists and doctors with the shareholders of AHS.
SINGAPORE (Feb 19): Asian Healthcare Specialists (AHS) has acquired a 51% stake in Cornerstone Asia Health (CAH), a provider of healthcare services across various specialisations, for $32.1 million.
In a regulatory filing on Wednesday, the group reported that the consideration was satisfied through the issuance of 104.2 million new consideration shares in AHS priced at 26 cents apiece, as well as $5 million in cash from proceeds of AHS’s initial public offering (IPO) in April 2018.
