Malaysia’s state investor Khazanah said its Integrated Healthcare unit controls 95% of Singapore hospital operator Parkway Holdings (PARM.SI) and it would make a decision soon on its listing status.

Shares of Parkway were suspended from Tuesday as less than 10% of its shares are in free float, Parkway said in a separate statement.

“With regards to the listing status of Parkway, the offeror is currently evaluating its position in the light of the level of acceptances received and the prevailing market conditions, and an announcement will be made in due course,” Integrated Healthcare Holdings said in a statement.

Khazanah trumped India’s Fortis Healthcare (FOHE.BO) in a takeover battle for Asia’s biggest listed hospital operator in a deal that could cost the state firm $3.5 billion.