Citic Group Corp.’s private equity arm agreed to buy the rest of Biosensors International Group Ltd., a medical device maker based in Singapore, for about S$1.1 billion ($817 million). Shares in Biosensors soared.
Citic Private Equity Funds Management Co. is paying S$0.84 a share for the stock it doesn’t already own, according to a stock exchange statement, which is 24% higher than Biosensors’ last closing price of S$0.68.
Biosensors shares jumped as much as 21% to S$0.82 before trading at S$0.81 at 9:11 a.m. in Singapore today.
The material has been provided by InstaForex Company – www.instaforex.com