After just a few days from my post, International Healthway Corporation Ltd (IHC) announced a trading halt on 15 Feb morning.
Apparently, IHC released a statement that OUE Ltd has launched an unconditional takeover offer for whole of IHC.
You can see it here. Unfortunately they are offering only $0.106, a mere $0.002 increment over the last traded price of $0.104.
That said, the deal will likely go through because pursuant to this takeover, it has already secured over 50% stake in the company.
- 21.83% from OUE own interests
- 35.77% from the other parties including the Oxley duo and related members (news here)
I had invested in it for the long haul thinking that OUE and the Oxley dudes will revitalize IHC given their huge land bank and assets. Now that the company is being acquired, I would need to shift my money into some other counter. I had some stock ideas in mind.. and will bring it to your attention when i switched course. So stay tuned!