Eu Yan Sang acquires % of Australian firm via Private Placement
Eu Yan Sang acquires 15% in Australian firm Healthzone
Singapore Private Placement: Singapore-listed Eu Yan Sang has acquired close to 15 per cent stake in Australian firm Healthzone in a private placement for about S$4.4 million.
The acquisition will enable Eu Yan Sang to enter the Australian mainstream health, beauty and natural health products market.
It will also have access to Healthzone’s retail network in China.
Eu Yan Sang bought a total of about 12 million shares at 30 Aussie cents each.
Among them, 7.3 million shares were from open market and 4.6million shares were from private placement.
The private placement includes warrants which enables Eu Yan Sang to increase its shareholding to 19.99 per cent when exercised at 38 Aussie cents per share.
It is now Healthzone’s largest single shareholder and is entitled to a seat on the board.
The company said the investment will help the firm explore the convergence of best eastern and western health practices.
This will help the firm position itself in the “western natural therapy space”, which includes health supplements. – CNA /ls http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1072896/1/.html
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