Albedo raises S$3m to ratchet up its extreme makeover
Add BT as a preferred source
Anita Gabriel
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
COMPELLED by an anaemic metal business and undeterred from a botched reverse takeover involving huge land in Malaysia's Iskandar, Albedo has now armed itself with an extreme makeover - and more funds - to tap the flourishing medical aesthetics market in China.
For a better stab at grabbing market share in sizeable China, the Catalist-listed firm announced on Friday that it is raising S$3 million through a proposed share placement of 300 million shares at one Singapore cent each to Frankie Kiow - a longtime Shanghai-based Malaysia businessman who will emerge as one of Albedo's majority owners with a 9.84 per cent stake.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
