SG Dealbook: Accrelist acquires laser clinics; Acromec raises funds via placement

The Marina Bay Sands hotel and casino stands in Singapore, on Thursday, Feb. 18, 2016. Photographer: SeongJoon Cho/Bloomberg

In separate developments, Accrelist is acquiring medical laser clinics as part of a diversification strategy while Acromec is raising funds through a placement of new shares.

Accrelist acquires Refresh Laser Clinics

Accrelist Ltd., formerly WE Holdings Ltd, has announced the acquisition of four aesthetic medical laser clinics, according to its stock exchange filing.

The firm signed sales and purchase agreements with Charles Leck Tin Hong, Leck Seok Noi, Rachel, Lee Bee Seng, Char Li Shing, Wong Meng Hang and Refresh Group Pte Ltd to acquire the entire issued share capital of a chain of four Refresh Laser Clinics for S$4 million.

The proposed acquisition is part of its strategy to provide shareholders with diversified returns and reduce the reliance on its existing business.

Accrelist plans to expand into the aesthetics medical services sector and seeks to add to the RLC network via the participation of third-party investors on its proposed crowdfunding subsidiary and platform, WE Crowdfunding Pte. Ltd.

Acromec raises funds via placement

Acromec Limited – which designs laboratories and sterile facilities – announced on Wednesday that the company plans to place S$3.84 million worth of new shares through the sale of 16 million new shares priced at 24 cents, according to a release.

The placement represents 13.05 per cent of current share capital and is not underwritten. The issue price translates to a 3.9 per cent discount to the volume weighted average price trades done on 23 January 2017, Tuesday, the day the agreement was signed.

Part of the new shares will also be allocated to a Tan Peng Yaow, an individual investor who is a director and shareholder of Bio-Pointe Pte Ltd, a supplier to the company. The shares are issued under a share issue mandate approved by shareholders.

The group of investors include CWXs Investments Pte Ltd, a subsidiary of Catalist-listed CWX Global Limited, a company listed on the Catalist board. It was formerly known as Loyz Energy.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.