Latest news with #MedezeTreasury
Business Times
29-05-2025
- Business
- Business Times
Independent financial adviser appointed for partial offer for Cordlife
[SINGAPORE] Cordlife has appointed Novus Corporate Finance as the independent financial adviser for a voluntary conditional cash partial offer it has received from a Thai company, said the private cord-blood bank on Thursday (May 29) in a bourse filing. Medeze Treasury, a wholly owned subsidiary of Thai-listed stem cell company Medeze Group, had offered to buy a 10 per cent stake in Cordlife, or about 25.6 million shares, at S$0.25 apiece. This reflects a premium of around 61.3 per cent over Cordlife's last traded price before the offer announcement of S$0.155 on May 9, and is also higher than its 12-month volume-weighted average price. This is Medeze's first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife, which has been embroiled in an investigation by the Ministry of Health after the company was found to have mishandled stored cord-blood units. Medeze Treasury said the deal offers long-term opportunities for both companies, including the promotion of services together for market expansion, products and services development, and operational synergies. Earlier in March, Cordlife sunk into the red with a net loss of S$6.3 million for its second half ended Dec 31, 2024, compared with a net profit of S$1.3 million in the previous corresponding period. This was mainly due to the fallout from lapses discovered in the storage of the company's cord-blood units two years ago. Shares of Cordlife closed flat at S$0.27 on Thursday.
Business Times
15-05-2025
- Business
- Business Times
Cordlife jumps 48% to S$0.23 on partial offer from Thai-listed Medeze
[SINGAPORE] Shares of Cordlife surged by over 48 per cent on Thursday (May 15), after the company lifted its trading halt earlier in the morning, which had been put in place on Tuesday. This came after a voluntary conditional cash partial offer from Medeze Treasury – a wholly owned subsidiary of Thai-listed stem cell company Medeze Group – was made for a 10 per cent stake in Cordlife. The private cord-blood bank requested to lift its trading halt at 10.34 am on Thursday, which took effect at 11.15 am. By 11.24 am, its share price had increased by S$0.065 to S$0.22, from S$0.155. As at 1.54 pm, Cordlife's shares had risen 48.4 per cent or S$0.075 to S$0.23. At 2.06 pm, it fell slightly to S$0.225, up 45.2 per cent or S$0.07. Medeze Treasury is seeking to acquire about 25.6 million shares at an offer price of S$0.25 apiece. As at Tuesday, the Medeze subsidiary holds nearly 1.7 million shares, which is close to 0.7 per cent of the voting rights in Cordlife. The move by Medeze to make a partial offer is the stem cell company's first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife. Assuming that the offer becomes unconditional and there are no changes to the number of shares up for offer, the resultant direct shareholding of Medeze Treasury in Cordlife shall be around 10.7 per cent of the shares (excluding treasury shares). Earlier in March, Cordlife sunk into the red with a net loss of S$6.3 million for its second half ended Dec 31, 2024, compared with a net profit of S$1.3 million in the previous corresponding period. This was mainly due to the fallout from lapses discovered in the storage of the company's cord-blood units two years ago.
Business Times
13-05-2025
- Business
- Business Times
Cordlife receives partial offer from Thai-listed Medeze for 10% stake
[SINGAPORE] Private cord-blood bank Cordlife announced on Tuesday (May 13) that it has received a voluntary conditional cash partial offer for a 10 per cent stake in the company from Medeze Treasury, a wholly owned subsidiary of Medeze Group, a South-east Asian stem cell company. This is the Thai-listed group's first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife. The subsidiary of Medeze is seeking to acquire about 25.6 million shares at an offer price of S$0.25 per share. This reflects a premium of around 61.3 per cent over the last traded price of S$0.155 on Friday, and also the 12-month volume-weighted average price. As at Tuesday, Medeze Treasury holds nearly 1.7 million shares representing close to 0.7 per cent of the voting rights in Cordlife. Assuming that the offer becomes unconditional and there are no changes to the number of shares up for offer, the resultant direct shareholding of Medeze Treasury in Cordlife shall be around 10.7 per cent of the shares (excluding treasury shares) as at the record date. Medeze Treasury said the deal offers long-term opportunities for both companies, including the promotion of services together for market expansion, products and services development, and operational synergies. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Medeze Group could provide services such as the analysis and storage of the natural killer cell – known for its ability to kill cancer cells – to Cordlife's customers. Cordlife could offer its chromosomal and genetic analysis and screening services to customers of the offeror. The offer vehicle is a Singapore-registered company. Its directors are Sharon Lim and Veerapol Khemarangsan, who is also the chief executive officer and co-founder of the parent group. For financial year 2024, the Medeze Group recorded revenue of 874.3 million baht (S$34.1 million) and net profit of 338.7 million baht, representing growth of 23.6 per cent and 41.4 per cent year on year, respectively. The group was listed on Thailand's stock exchange in 2024. It has a market capitalisation of about S$305.6 million as at May 13. It is engaged in the business of analysing, sorting, culturing and storing stem cells and testing the potential of immune cells. Earlier in March, Cordlife sunk into the red with a net loss of S$6.3 million for its second half ended Dec 31, 2024, compared with a net profit of S$1.3 million in the previous corresponding period. This was mainly due to the fallout from lapses discovered in the storage of the company's cord-blood units two years ago. Cordlife requested a trading halt on Tuesday morning. The counter closed 1.9 per cent or S$0.003 lower at S$0.155 on Friday.
Business Times
13-05-2025
- Business
- Business Times
Cordlife receives partial offer for 10% stake from Thai-listed Medeze
[SINGAPORE] Private cord-blood bank Cordlife announced on Tuesday (May 13) that it has received a voluntary conditional cash partial offer for a 10 per cent stake in the company from Medeze Treasury, a wholly owned subsidiary of Medeze Group, a South-east Asian stem cell company. This is the Thai-listed group's first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife. The subsidiary of Medeze is seeking to acquire about 25.6 million shares at an offer price of S$0.25 per share. This reflects a premium of around 61.3 per cent over the last traded price of S$0.155 on Friday, and also the 12-month volume-weighted average price. As at Tuesday, Medeze Treasury holds nearly 1.7 million shares representing close to 0.7 per cent of the voting rights in Cordlife. Assuming that the offer becomes unconditional and there are no changes to the number of shares up for offer, the resultant direct shareholding of Medeze Treasury in Cordlife shall be around 10.7 per cent of the shares (excluding treasury shares) as at the record date. Medeze Treasury said the deal offers long-term opportunities for both companies, including the promotion of services together for market expansion, products and services development, and operational synergies. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Medeze Group could provide services such as the analysis and storage of the natural killer cell – known for its ability to kill cancer cells – to Cordlife's customers. Cordlife could offer its chromosomal and genetic analysis and screening services to customers of the offeror. The offer vehicle is a Singapore-registered company. Its directors are Sharon Lim and Veerapol Khemarangsan, who is also the chief executive officer and co-founder of the parent group. For financial year 2024, the Medeze Group recorded revenue of 874.3 million baht (S$34.1 million) and net profit of 338.7 million baht, representing growth of 23.6 per cent and 41.4 per cent year on year, respectively. The group was listed on Thailand's stock exchange in 2024. It has a market capitalisation of about S$305.6 million as at May 13. It is engaged in the business of analysing, sorting, culturing and storing stem cells and testing the potential of immune cells. Earlier in March, Cordlife sunk into the red with a net loss of S$6.3 million for its second half ended Dec 31, 2024, compared with a net profit of S$1.3 million in the previous corresponding period. This was mainly due to the fallout from lapses discovered in the storage of the company's cord-blood units two years ago. Cordlife requested a trading halt on Tuesday morning. The counter closed 1.9 per cent or S$0.003 lower at S$0.155 on Friday.
Business Times
13-05-2025
- Business
- Business Times
Cordlife receives offer for 10% stake from subsidiary of stem cell company Medeze
[SINGAPORE] Private cord-blood bank Cordlife announced on Tuesday (May 13) that it has received a voluntary conditional cash partial offer for a 10 per cent stake in the company from Medeze Treasury, a wholly owned subsidiary of Medeze, a South-east Asian stem cell company. This is the Thai-listed group's first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife. The subsidiary of Medeze is seeking to acquire about 25.6 million shares at an offer price of S$0.25 per share. This reflects a premium of around 61.3 per cent over the last traded price of S$0.155 on Friday, and also the 12-month volume-weighted average price. According to the offeror, it believes there are long-term opportunities that could benefit both Medeze Treasury and Cordlife with the voluntary conditional cash partial offer, including the promotion of services together for market expansion, products and services development, diversification of business in the region, and cost and operational synergies by leveraging each other's expertise. As at Tuesday, Medeze Treasury holds nearly 1.7 million shares representing close to 0.7 per cent of the voting rights in Cordlife. Assuming that the offer becomes unconditional and there are no changes to the number of shares up for offer, the resultant direct shareholding of the Medeze Treasury in Cordlife shall be around 10.7 per cent of the shares (excluding treasury shares) as at the record date. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In a company statement, an example is provided where Medeze Group could offer services such as analysing and storing natural killer cell and hair follicle banking services to Cordlife's customers. Meanwhile, Cordlife could offer its chromosomal and genetic analysis and screening services to the customers of the offeror, if their collaboration eventuates. Such collaboration could strengthen the market position of both Cordlife and Medeze Group, and growth on an international level. A private company incorporated in Singapore in May 2021, Medeze Treasury has an authorised share capital of close to S$27.3 million consisting of one class of ordinary shares of S$1 each. Its directors are Sharon Lim and Veerapol Khemarangsan. The Medeze Group has been listed on Thailand's stock exchange since October 2024, with a market capitalisation of about S$305.6 million as at May 13. It is engaged in the business of analysing, sorting, culturing and storing stem cells and testing the potential of immune cells. Earlier in March, Cordlife sunk into the red with a net loss of S$6.3 million for its second half ended Dec 31, 2024, compared with a net profit of S$1.3 million in the previous corresponding period. This was mainly due to the fallout from lapses discovered in the storage of the company's cord-blood units two years ago. Cordlife requested a trading halt on Tuesday morning. The counter closed 1.9 per cent or S$0.003 lower at S$0.155 on Friday.
