Siloam to sell shares

Siloam to sell shares

HONG KONG (Reuter): Hospital company Siloam Gleneagles plans to seek a listing on the Jakarta Stock Exchange within the next six months, James Riady, deputy chairman of the Lippo Group, told Reuters.

Lippo Group holds 70 percent of Siloam Gleneagles while Singapore's Parkway Holdings owns 30 percent of the company via its wholly owned subsidiary Gleneagles International.

Siloam Gleneagles recently opened a US$48 million hospital in Indonesia.

Riady noted that International Finance Corp and Development Bank of Singapore own convertible bonds of the company.

Riady said the issue would likely total US$50 to US$100 million.