Shares of Singapore’s healthcare provider Thomson Medical Centre (THOM.SI) surged as much as 63% to an all-time high after billionaire investor Peter Lim made a takeover offer for the firm.

At 0122 GMT, shares of Thomson Medical were traded at $1.74 with over 115 million shares changing hands.

 

Lim on Friday struck a deal with Thomson Medical’s founding family at $1.75 a share, a price that will also be extended to the company’s remaining shareholders, valuing the whole company at $513 million .

 

He made the offer after his investment firm agreed to buy a 39.34% stake in the company from Thomson’s largest shareholder and founder Dr Cheng Wei Chen and his family, a statement said.