Singapore: Cordlife hikes stake in StemLife to over 50%, makes it subsidiary

Visual from the Cordlife Singapore website. September 2015

Cordlife Group has acquired 2.7 million shares of StemLife Bhd, for MYR1.22 million ($404,007) or MYR0.45 for each StemLife share.

With the acquisition, Cordlife’s stake in StemLife has increased to about 50.03 per cent from 48.94 per cent, making it a subsidiary under Cordlife upon completion of the acquisition.

The acquisition is not expected to have any material impact on the net assets per share or earnings per share of the company for the current financial year ending June 30, 2016.

Earlier in November, the Singapore-listed consumer healthcare corporation sought to increase its presence in Malaysia’s healthcare sector by offering to purchase shares of associated firm StemLife in a deal valued at S$24.4 million ($17.1 million).

Last Friday, Cordlife announced that it acquired 17.4 million shares in StemLife for MYR7.8 million ($1.86 million) or MYR0.45 per StemLife share, the same price it acquired its latest stake at.

The acquisition last week pushed its shareholding from about 41.92 to 48.94 per cent. Cordlife closed 3.4 per cent higher at $1.38 on Monday.

Also Read:

MY Dealbook: MRCB places office tower into MQREIT; CordLife ups stake in StemLife

SG Dealbook: Cordlife considers M&A, KS Energy acquires OOE in $1.63m deal

Singapore: Cordlife Group proposes StemLife acquisition for $17.1m

Robust Plan withdraws offer for Cordlife’s China assets

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.

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

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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.