Thailand-listed Medeze Group has initiated a voluntary conditional cash partial offer to acquire a 10% stake in Singapore Exchange (SGX)-listed Cordlife Group Limited. The offer, announced on 9 May, proposes a purchase price of S$0.25 per share, representing a 61.3% premium over Cordlife’s last traded price and its 12-month volume-weighted average price.
The offer, facilitated by PrimePartners Corporate Finance Pte. Ltd. on behalf of Medeze Treasury Pte. Ltd., aims to acquire 25,630,774 shares, equating to approximately 10.68% of Cordlife’s total shares, excluding treasury shares. Medeze views this acquisition as a strategic move to foster long-term collaboration with Cordlife, focusing on market expansion, product development, and operational synergies.
Medeze’s offer provides Cordlife shareholders with an opportunity to exit at a premium, a significant consideration given the current market conditions. The Securities Industry Council of Singapore has approved the offer, subject to conditions ensuring fair trading practices and shareholder rights.
The offer is contingent upon receiving valid acceptances for at least 10% of Cordlife’s shares. If successful, Medeze’s direct shareholding in Cordlife will rise to approximately 10.68%. This move underscores Medeze’s commitment to expanding its presence in the Southeast Asian healthcare market, leveraging Cordlife’s established position in the industry.
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