OUE Healthcare (SGX:5WA) received a proposal to be taken private via a scheme of arrangement, with scheme shareholders to receive SG$0.050 per share, according to a filing with the Singapore Exchange on Monday.

The offeror, Treasure International Holdings, is an existing controlling shareholder of the company and has an 89.68% stake in it.

The scheme offers shareholders a chance to exit their investment at a premium, while allowing management flexibility to pursue longer-term strategies, without having to tackle the compliance costs of maintaining a listing.

Shares of the healthcare company surged nearly 21% in Monday trading.