Citic Private Equity Funds Management Co. is considering
buying full control of medical devices maker Biosensors International
Group Ltd., two people with knowledge of the deliberations told
Bloomberg - PHOTO: BIOSENSORS INTERNATIONAL GROUP
CITIC Private Equity Funds Management Co is considering buying
full control of medical devices maker Biosensors International Group
Ltd, two people with knowledge of the deliberations told Bloomberg.
The wire agency said the Beijing-based firm, an arm of China's state-backed Citic Group Corp. conglomerate, is in talks with several banks about financing for a deal. It owns about 22 percent of the Singapore-listed company, which had a market value of S$1.5 billion ($1.2 billion) as of Monday.
On Tuesday, Biosensors shares opened at 87 cents each before jumping to S$1.03. They are currently trading around S$1, up 13 cents or 15 per cent, the biggest intraday gain since September 2010, prompting a query from the Singapore Exchange.
Sources told Bloomberg that Citic Private Equity is considering an offer for the rest of Biosensors after the company lost about half its value from a February 2012 peak.
The wire agency said the Beijing-based firm, an arm of China's state-backed Citic Group Corp. conglomerate, is in talks with several banks about financing for a deal. It owns about 22 percent of the Singapore-listed company, which had a market value of S$1.5 billion ($1.2 billion) as of Monday.
On Tuesday, Biosensors shares opened at 87 cents each before jumping to S$1.03. They are currently trading around S$1, up 13 cents or 15 per cent, the biggest intraday gain since September 2010, prompting a query from the Singapore Exchange.
Sources told Bloomberg that Citic Private Equity is considering an offer for the rest of Biosensors after the company lost about half its value from a February 2012 peak.
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