Enabler Bidco, a special purpose company, has agreed to acquire the entire issued and paid-up shares in Econ Healthcare (SGX:EHG) via a scheme of arrangement, according to a filing with the Singapore Exchange on Friday.

The scheme consideration includes a cash consideration of shares at SG$0.330 per share, or the cash and securities consideration of SG$0.224 per share in cash and SG$0.321148 per Enabler Holdco shares.

The offeror and Enabler Holdco are special purposes vehicles registered in the Cayman Islands for the purpose of the acquisition.

Pursuant to the acquisition, the offeror is looking to delist and privatize the company.

Shares of the aged healthcare provider surged nearly 8% in recent trading.