In an SGX filing dated April 13, Q&M Dental Group (Q&M) announced that on April 10, it has disposed 30 million shares of Aoxin Q&M Dental Group (Aoxin) via married deal to Lion Global Investors.
With a total consideration of $5.4 million, excluding brokerage and stamp duties, this translates to a price of 18 cents per share.
Following the April 10 married deal, Q&M’s stake in Aoxin has reduced from 55.87% to 52.93%.
Back on March 27, Aoxin announced its plan to acquire a China-based dental group for RMB150 million, of which Aoxin will pay cash of RMB75 million and issue new shares at 30 cents each to fund the balance.
So far, there has been no further announcement on this proposed acquisition.
As at 9.51am, shares of Aoxin are traded flat at 20.5 cents. Its share price has seen a gain of 310% for the past one year.
