You are here

Q&M plans to spin off China dental manufacturing business

Friday, April 24, 2015 - 07:57
ocdental234534.jpg
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.

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.

Powered by GET.comGetCom