Rowsley shares soar 60% after Peter Lim injects Thomson Medical, TMC into company

Peter Lim, Singapore billionaire and Rowsley's controlling shareholder.
Peter Lim, Singapore billionaire and Rowsley's controlling shareholder.PHOTO: VALENCIA CF

SINGAPORE (REUTERS) - Shares of  mainboard-listed Rowsley Ltd jumped more than 60 per cent to four-month-highs on Wednesday (July 19) after news on Tuesday night that controlling shareholder, Singapore billionaire Peter Lim, will be injecting  healthcare assets valued at up to $1.9 billion into the firm.

The assets comprise 100 per cent of Thomson Medical and 70.36 per cent of Malaysia-listed TMC Life Sciences. The purchase will be financed through up to 25.3 billion new shares issued to Mr Lim at 7.5 Singapore cents a share. Warrants will also be issued to existing shareholders upon completion.

Rowsley shares jumped as much as 64.4 per cent  to 12 cents, the highest since March 8.  About 143.4 mlillion shares changed hands, 13.9 times the 30-day average.

At 10:50pm, Rowsley was trading up 57.5 per cent at 11.5 cents.

Mr Lim indirectly owns a 45.34 per cent stake in Rowsley.