Cordlife IPO: Grp will raise about $26.3m in net proceeds from its IPO to aid its SG and HK expansion and overseas acquisitions. Cordlife will issue 60m new shares - 2m public shares and 58m placement shares - at 49.5c apiece.
Shareholders can also look forward to a div payout in the current financial year ending June 30, 2012. Cordlife will pay out at least 25% of FY2011's $8.5m net profit, which amounts to $2.13m. Cordlife's public offer opens today and closes at noon on March 27. Cordlife starts trading on the mainboard on March 29. We will be following up with a factsheet shortly.
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