Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 13): StemLife Bhd rose as much as 1.5 sen or 3.5% to 44 sen, after getting a takeover offer from major shareholder Cordlife Group Ltd.

Cordlife offered to privatise stem cell specialist StemLife at 45 sen a share.

At 10:28 am, StemLife pared gains at 43.5 sen, with a trading volume of 363,500 shares. At 11:16am StemLife was traded at 43.5 sen, with 373,500 shares done.

Yesterday (Nov 12), StemLife informed Bursa Malaysia that Cordlife was obliged to make the takeover offer, after Cordlife increased its StemLife stake to 33.03% from 31.81%.

According to StemLife, Cordlife does not intend to maintain StemLife’s listing status.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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