Thailand-listed stem cell specialist Medeze Group PCL has launched a voluntary conditional cash partial offer to acquire a 10% stake in Singapore-listed Cordlife Group, according to an announcement.
The offer, made through Medeze’s wholly owned subsidiary Medeze Treasury Pte Ltd, is for S$0.25 per share, representing a 61.3% premium over Cordlife’s last traded price on May 9.
It targets 25.63 million ordinary shares, excluding treasury stock, of the Singapore-listed provider of cord blood banking services. If successful, Medeze’s total stake would rise to approximately 10.68%.
“The partial offer represents an attractive opportunity for Cordlife shareholders to realise part or potentially all of their investment,” Medeze said.
The offer marks Medeze’s first strategic investment in Singapore and is aimed at fostering long-term collaboration with Cordlife, a provider of cord blood banking services across Asia.
Cordlife was incorporated in Singapore in May 2001 and has been listed on the Mainboard of the Singapore Exchange Securities Trading Limited since March 2012.
The company is in the business of providing cord blood banking services such as the collection, processing, testing, cryopreservation, and storage of umbilical cord blood at birth in countries including Singapore, Hong Kong, Macau, Indonesia, Thailand, India, and the Philippines.
Cordlife, led by CEO and founder Dr. Veerapol Khemarangsan, is recognised as a leading stem cell bank in Southeast Asia and has been named “Stem Cell Banking Company of the Year” by Frost & Sullivan for two consecutive years.
Medeze, on the other hand, recently listed on the Stock Exchange of Thailand, reported a revenue of 874.3 million baht and net profit of 338.7 million baht in 2024.
The company said it intends to work collaboratively with Cordlife’s existing controlling shareholders and management team to explore joint business development and expansion into new markets, among others.
According to the announcement, the offeror’s partial bid will only go ahead if it secures acceptances for at least 25,630,774 shares—equal to 10% of the company’s outstanding stock, excluding treasury shares, as of the record date.
