Cordlife ups stake in StemLife to 31.81%

CORDLIFE Group has acquired a further 11.89 per cent interest in StemLife Berhad, an associated company of Cordlife which is listed on the ACE Market of Bursa Malaysia, for RM17.66 million (S$6.9 million).

Cordlife now holds approximately 31.81 per cent of the issued and paid-up share capital in StemLife, after acquiring 19.92 per cent of the company's share capital on Oct 4.

According to a statement from Cordlife, the consideration of RM17.66 million was derived after taking into account the aggregate net tangible asset value of StemLife of approximately RM33.17 million, and StemLife's cash balance of RM73.74 million and deferred income from operations of RM58.69 million as of Sept 30.