Q&M Dental: sets a 5 yr target to list its China business, once the JVs that it holds there achieve a combined profit of Rmb 80-90m (S$15-17m). CEO estimates that another rmb400m of investments is required to achieve the profit tgt. Says, to fund its expansion plans in China, Q&M will undertake a secondary listing in Taiwan to raise up to US$50m via TDRs...
Adds that "in Spore, a lot of funds will talk to you for a share placement at 10-20% discount to the mkt price, whereas for the TDRs, the brokerage house we've approached is talking about possibly a premium"...
Grp maintains its tgt of having 50 dental clinics and 20 dental laboratories in China by 2015. Its current 2 JVs are expected to start contributing to earnings from 3Q11 onwards.
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