India's Fortis Healthcare has more time to think whether it intends to make a full offer for hospital operator Parkway Holdings, as Singapore's securities regulator has asked it to report the same before July 30. Fortis Healthcare shared that it has been keeping its options open over a counterbid for Parkway, followed by the statement from the Securities Industry Council on Wednesday.

Fortis already holds roughly 25% of Parkway, but it will have to offer over $2.3 billion to buy the rest of it. Fortis wished to build a controlling stake in the Singapore Company, but last month Khazanah made a surprise $835 million offer to lift its stake from 23.5 percent to 51.5%.

Fortis and Khazanah want to utilize the Singapore firm to lead their regional development into healthcare. SIC said, "Parkway shareholders should be given sufficient information, advice and time to enable them to reach an informed decision on the partial offer".

Australia's Macquarie and Indian financial services group Religare have been appointed by Fortis to help it raise funds for a potential counterbid.

A party has 50 days to decide whether to make a counterbid from the date an offer document by a rival party is dispatched to shareholders, under Singapore rules, revealed the SIC.