54.58m shares was sold to Hon Kwok Lung (of Citychamp watch & jewellery group) for S$24.56m at 0.45 per share.
these shares were sold by TripleWise (who had taken over Kunlum's Cordlife shares via a Note Purchase Agreement in May 18).
Kunlum had accumulated about 56m cordlife shares (majority thru married deals) from 27 Nov 15 to 16 Jul 18, before granting it to Triplewise in May 18. Interestingly, these shares were purchased for a cumulative total of about S$94.8m (SGX data).
Unable to fathom the huge buy/sell price difference, wondering what am I missing here?
@ fersine, @walter,
What do you make of these moves?
Plus the proposal to merge with Global Cord Blood (whose cash is approx. US$700 million! and far exceeds the market cap). won't people have some doubts about the veracity?
