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Q&M plans to spin off China dental manufacturing business
Q&M Dental Group said it plans to spin off its China manufacturing subsidiary Q&M Aidite International through a listing on a reputable stock exchange.
Aidite makes zirconium oxide blocks, used in a CAD/CAM machine, a computer-aided technology that can do tooth restorations fast.
Q&M acquired Aidite last year for 39.5 million yuan (S$8 million then) in cash and another 35 million yuan to be injected for expansion purposes.
Q&M said the proposed listing could give access to another source of funding for growth given Aidite's capital-intensive manufacturing business.
The listing can also give investors a chance to independently assess the value of the manufacturing business, Q&M said.
Q&M cautioned that there is no assurance that the proposed listing will materialise, as it depends on preparatory work, regulatory approvals, market conditions and directors' decisions.
Q&M shares closed at 77 Singapore cents on Thursday, up five Singapore cents or 6.9 per cent.