Photo taken on Nov. 6, 2022 shows the MRIdian Linac magnetic resonance guided radiation therapy system exhibited at the Fosun Health booth in the medical equipment and healthcare products exhibition area of the fifth China International Import Expo (CIIE) at the National Exhibition and Convention Center (Shanghai) in east China's Shanghai. (Xinhua/Ding Ting)
BEIJING, Nov. 18 (Xinhua) -- Shandong Sinocera Functional Materials Co., Ltd. (300285.SZ) announced on Thursday that Sinocera (Singapore), its subordinate company, is to acquire 20.03 percent stake of Spident Co., Ltd. in the Republic of Korea (ROK) with its own or self-raised capital of 7.04 billion won (about 37.5 million yuan), the Xinhua-run Shanghai Securities News reported.
According to the announcement, Sinocera (Singapore) signed a series of agreements with the target company and its shareholders. Sinocera (Singapore) will buy all the shares held by Min Sung Kim, the fourth largest shareholder of Spident, and subscribe for all the newly issued shares of Spident. Upon completion of the equity transfer and subscription, Sinocera (Singapore) will hold 20.03 percent stake in Spident.
Data shows that Spident, founded in 1997, is a medical device company based in ROK specializing in research and development, production and sales of oral clinical chemical materials and other clinical repair materials. At present, it has built a research and development system and industrial platform for oral clinical restorative materials, and its oral clinical restorative products have achieved certain achievements.
Sinocera (300285.SZ) said that this acquisition can help the company better expand the market and strengthen closer cooperation with the target company in the field of oral restorative products to improve the company's overall competitiveness and profitability.
(Edited by Tian Shenyoujia with Xinhua Silk Road, email@example.com)