Q&M looks restructure stake in Chinese manufacturing firm ahead of potential listing

Its stake will be reduced to 51%.

Mainboard-listed Q&M Dental Group will restructure its stake in its Chinese subsidiary Qinhuangdao Aidite High Technical Ceramic Co ahead of the manufacturing company's potential listing. 

Aidite shall undertake a capital reduction exercise to reduce its equity capital from the existing sum of RMB 47 million (approximately S$10.59 million) to RMB 23.97 million (approximately S$5.40 million).

Q&M Dental will also pay the founders of Aidite an aggregate consideration of RMB 28.7875 million (approximately S$6.48 million) in Singapore dollars for the cancellation of the option granted by Q & M China, to each of the Vendors to buy 24.5% of the shareholding of Q & M Aidite.

Lastly, Aidite shall undertake a placement of equity interests to its founders, which will allow the two founders to own a 20% stake each.