Cordlife receives partial offer from Thai-listed Medeze for 10% stake
The stem cell company is seeking 25.6 million shares at S$0.25 apiece; hopes to explore opportunities with Singapore firm
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[SINGAPORE] Private cord-blood bank Cordlife Group announced on Tuesday (May 13) that it has received a voluntary conditional cash partial offer for a 10 per cent stake in the company from Medeze Treasury, a wholly owned subsidiary of Medeze Group, a Thai-listed stem cell company.
This is Medeze’s first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife.
Medeze Treasury is seeking to acquire about 25.6 million shares at an offer price of S$0.25 per share. This reflects a premium of around 61.3 per cent over the last traded price of S$0.155 on Friday, and also the 12-month volume-weighted average price.
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