Singapore Paincare (SGX:FRQ) received an offer from Advance Bridge Healthcare for the acquisition of the entire share capital of the company at SG$0.16 per share, according to a Wednesday filing on the Singapore Exchange.
The offer will cover all the ordinary shares excluding treasury shares and shares held by Lee Mun Kam Bernard and Loh Food Keong Jeffrey.
The acquisition will allow scheme shareholders to realize their investment in the company at a premium.
Singapore Paincare will eventually delist from the SGX after regulatory approvals are obtained.
Shares of the healthcare services company surged over 11% in recent trading.
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