CFM Holdings fields slew of SGX queries over pharma startup acquisition
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Singapore
SHARES of CFM Holdings have soared over the past two days, following its announcement on June 3 that it would acquire a 51 per cent stake in SING-SWE MM Biotechnology, which distributes and sells pharmaceutical products, for up to S$6.1 million.
When pressed by the Singapore Exchange Regulation (SGX RegCo) on who introduced this deal, CFM said a mutual business associate had introduced Fang Huasheng and Gao Hong to its chief executive officer, Janet Lim, for the purposes of distribution and sale of viral test kits in Singapore.
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