As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down

Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Saturday, 23 November 2013

HK firm exits Biosensors for US$312.3m

BT 20131123 JQBIO23 849371

 Shandong Weigao wants to focus on its main businesses - medical consumables, blood purification and orthopaedic products

SHANDONG Weigao will be selling its entire 21.7 per cent stake in Singapore medical devices firm Biosensors International Group for US$312.3 million, because of increasing competition in China and its intention to focus on its main businesses.

Shandong Weigao, via its wholly owned subsidiary, Wellford Capital, will sell its stake to Bermuda's CB Medical Holdings at S$1.05 per share, which represents a premium of around 11.7 per cent to Biosensors' closing price of S$0.94 on Thursday.

Shandong Weigao said yesterday that it estimated a loss of around 449 million yuan (S$92.2 million) from the sale.

Net proceeds would be used as working capital and to develop its three core business units: medical consumables, blood purification and orthopaedic products.

CW8888: Cut losses as see no future in China!

No comments:

Post a Comment

Related Posts with Thumbnails