Parkway shares rise 1 pct on Khazanah's improved bid

SINGAPORE, July 27 (Reuters) - Shares of Singapore's Parkway PARM.SI opened 1.03 percent higher on Tuesday after Malaysian state investor Khazanah made an improved offer for the regional healthcare provider.

Around 0102 GMT, Parkway was traded at S$3.92, higher than its Friday closing price of S$3.88. Parkway shares were suspended from trading on Monday.

Khazanah -- in its biggest acquisition overseas -- on Monday offered S$3.95 per share for all Parkway shares it did not own in a move that valued the hospital operator at $3.3 billion, topping the S$3.80 offered by Fortis. [ID:nnSGE66P00J]

Fortis said it would accept the Khazanah offer and use the S$116.7 million profit from the sale of its 25 percent stake in Parkway to look for other opportunities in the region.

(Reporting by Kevin Lim)