Singapore: New Silkroutes Group acquires two Shanghai firms for $49.3m

Singapore: New Silkroutes Group acquires two Shanghai firms for $49.3m

Photo by Henk Vrieselaar on Unsplash

SGX-listed New Silkroutes Group has acquired two Shanghai-based makers of medical consumables for a consideration of S$65 million ($49.3 million), it announced in a stock exchange filing on Friday.

The acquisitions of Shanghai Fengwei Nonwovens and Shanghai Fengwei Garment Accessory will be financed through the issue of new ordinary shares in the company.

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