Shares of Sunway Bhd, which re -traded today, opened at RM1.81, three sen higher than the last traded price of RM1.78 after the company yesterday announced that Singapore -owned Greenwood Capital Pte Ltd would invest in the firm.
However, the counter's stock declined as soon as the trading session opened.
At 10.15am, Sunway Bhd's share price was down 5 sen or 2.8% lower at RM1.73, with 6.064 million shares traded.
At RM1.73, Sunway Bhd has a market value of about RM8.53 billion based on the company's 4.93 billion issued shares.
Sunway Bhd's trading resumed today after being suspended yesterday following the announcement of Greenwood's investment in Sunway Healthcare.
Shares of Sunway Bhd have been on an upward trend since late last month from the previous RM1.55 level.
Greenwood, which is a wholly -owned unit of GIC (Ventures), will inject an investment of RM750 million into Sunway Healthcare through the purchase of a 16% stake with the proceeds to be used for the expansion of existing hospitals and working capital purposes.
According to Sunway Group founder Tan Sri Jeffrey Cheah Fook Ling, the investment coincides with Sunway Group's strategy as its existing health centers, Sunway Medical Center Sunway City and Sunway Medical Center Velocity, will be expanded in capacity and have begun plans to build six more hospitals in a few years. next.
In addition, Sunway Healthcare Group also plans to expand other health -related businesses such as home healthcare, housing for the elderly, telemedicine centers and traditional medicine centers.
Cheah added that the new hospital is expected to be completed within 3 to 4 years and his party will launch an initial public offering (IPO) within 6 to 8 years after the hospital is completed.
