Q&M Dental to acquire majority stake in Smilebay Dental Clinics for $4.4m
The clinics are located in Penang.
Q&M Dental will acquire a 60% stake in Smilebay Dental Clinics for a total consideration of $4.4m (RM 12.29m).
Founded in 1999, the Smilebay Dental Clinics operates 6 dental clinics in Penang, Malaysia.
The acquisition will be funded by paying an the vendors $2.4m (RM 6.77m) in cash and issuing $1.61m (RM4.51m) worth of the company's shares at an issue price of 90% of the weighted average price for trades done on the shares of the Company on the SGX on 19 June 2015.