The share amount sold to Actis represents more than 10% of the voting rights of Asiri Hospital Holdings PLC.
A share has been priced at Rs. 10.80
In an announcement made earlier, Asiri Hospitals said it will utilize the proceeds of the sale to fund or part fund the acquisition of 7.3 million (7,303,257) shares of Asiri Central Hospitals from Asiri Surgical Hospitals PLC for a consideration of not more than Rs. 250 per share.
Apart from it, the hospital firm is also planning to acquire 15.88 million (15,883,569) shares of Central Hospital Limited from Asiri Surgical Hospital PLC for a consideration of not more than Rs. 25 per share.
The Company says, the excess of the proceeds will be used to increase its shareholding in Asiri Central Hospitals PLC and Asiri Surgical Hospitals PLC and any remained thereafter to reduce the general indebtedness of the Asiri group of companies.