Government investment arm, Khazanah Nasional Bhd via its unit, Integrated Healthcare Holdings Ltd, has offered to pay RM2.78 billion for an additional 28 percent equity in Singapore listed Parkway Holdings Ltd.

Khazanah is offering S$3.78 a share to increase its stake from the current 23.5 percent in Parkway to 51.5 percent, it said in a statement in Kuala Lumpur today.

The offer price represents a 25.2 per cent premium over Parkway's last traded price of S$3.02 per share on May 26 and a 60.9 per cent premium over Parkway's 12-month volume weighted average price of S$2.35 per share.

Parkway is a leading provider of healthcare services with a network of 16 hospitals with more than 3,400 beds throughout Asia, including Singapore, Malaysia, Brunei, India and China.

- Bernama