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.