Q&M's Ng raises deemed stake in company with open market buying at 55.9 cents apiece

Quan Min Holdings, an entity used by Dr Ng Chin Siau and related parties to control Q&M Dental Group, has increased its stake in the growing dental chain.

On March 17, Ng paid $1.33 million to buy 2.38 million shares from the open market, which works out to an average of 55.9 cents apiece.

This brings the total stake under Quan Min Holdings from 55.69% to 55.94%, or just over 528.32 million shares.

Under Ng, Q&M is on an acquisition binge, pursuing three concurrent acquisitions in home ground Singapore, as well as Thailand and Australia.

In China, Aoxin Q&M, its separately listed subsidiary, is in an "active" acquisition mode as well.

Q&M Dental Group shares closed at 56 cents on March 17, up 2.73% for the day and up 88.33% in the past year.

See also: Michael Kum raises stake in Marco Polo Marine to 5.77% after buying shares from Penguin International at 13 cents each

Aoxin Q&M, meanwhile, closed at 22 cents, down 8.33% for the day but up 450% in the past year.