[ad_1]
An investor monitors share market prices at a brokerage firm in Kuala Lumpur, Malaysia, August 24, 2015. REUTERS/Olivia Harris
Malaysia’s CCM Duopharma Biotech Bhd has picked up a 5.8 per cent stake in Korean SCM Lifescience while auto parts maker MeGroup is looking to raise S$2.4 million ($1.7 million) via its IPO on the Catalist board.
CCM Duopharma picks stake in SCM Lifescience
Malaysia’s CCM Duopharma Biotech Bhd has picked up a 5.8 per cent stake in Korean SCM Lifescience for RM20.24 milion ($4.85 million), marking the former’s foray into regenerative medicine, said CCM Duopharma in a stock filing with Bursa Malaysia on October 25.
SCM Lifescience specialises in stem cell therapeutics with proprietary platform technology in the field of high-purity isolation and cultivation of mesenchymal stem cells. The strategic investment allows CCM Duopharma to access a range of pipeline products that are ready to be commercialised in the next few years.
CCM Duopharma and SCM Lifescience have also entered into an exclusive marketing and commercialisation agreement whereby the former acquired rights to market and commercialise products developed by SCM Lifescience in selected territories in the region.
MeGroup to raise $1.7m via IPO
Malaysian car dealership and automotive parts maker MeGroup is looking to raise S$2.4 million ($1.7 million) via its IPO on the Catalist board of the Singapore Exchange.
MeGroup will use 47.4 per cent of the proceeds for business expansion, mergers and acquisitions, while the remaining will be used for general working capital purposes.
It has launched its IPO on October 23 with an offer price of S$0.23 per share. MeGroup will offer a total of 16.5 million new shares, with 1.5 million shares in the public tranche and 15 million shares in the placement tranche.
Upon listing, MeGroup will have a market capitalisation of S$27.3 million ($19.8 million), which is 9.2 times its earnings for the 2018 financial year ended on March 31, 2018. It will official trade on the SGX on October 31.
Also read:
Malaysia’s Securemetric seeks to raise $4m from ACE Market IPO
Singapore Digest: HP-NTU set up lab; MATCH draws investor interest
[ad_2]
Source link
