PARKWAY PANTAI INCREASES STAKE IN CONTINENTAL HOSPITALS BY 1.3 PER CENT
- GDPL increases stake in CHPL by 1.3 per cent to 52.3 per cent
- Dr Tan See Leng assumes position as Chairman of the CHPL Board
India: Parkway Pantai Limited is pleased to announce the allotment of an additional 1.3 per cent of shares in Continental Hospitals Pvt. Ltd. (“CHPL”) through its subsidiary Gleneagles Development Pte. Ltd. (“GDPL”).
GDPL’s capital contributions to and ongoing support of CHPL underscores its commitment to develop quality healthcare services in India. The current allotment of shares increases GDPL’s stake in CHPL to 52.3 per cent and dilutes the other shareholders to 47.7 per cent. Parkway Pantai will also participate in a subsequent rights issue announced by CHPL’s Board.
GDPL also thanks Dr Tan See Leng, Managing Director and CEO of IHH Healthcare and Group CEO and Managing Director of Parkway Pantai for accepting to be the new Chairman of the Board of Directors of CHPL, replacing Dr Gurunath Reddy. As Chairman of the Board, Dr Tan See Leng will further assist in strengthening and growing Continental Hospitals.