Medi Lifestyle's (SGX:Z4D) controlling shareholder, Lingholm Holdings, agreed to dispose of 142 million shares in the company for SG$568,000, according to a Friday filing with the Singapore Exchange.
Shares of the healthcare company surged over 160% in Monday trading.
The shares represent around 37.56% of the company's issued share capital.
Following the transaction, Lingholm will no longer be the company's shareholder.
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