IFA deems Cordlife's partial offer not fair and not reasonable

Medeze Treasury proposed to acquire 25.63 million shares in Cordlife at $0.25 each.

Novus Corporate Finance, the appointed independent financial advisor (IFA) to oversee the partial offer made by Medeze Treasury, to acquire a 10.00% stake in Cordlife Group has deemed the offer “not fair and not reasonable”.

On May 13, Medeze Treasury proposed to acquire 25.63 million shares in Cordlife at $0.25 per share. Medeze Treasury currently holds a 0.68% stake in the company.

The offer price represents a discount of approximately 22.4% and 22.8% to the volume-weighted average price (VWAP) of the shares for the three-year and two-year periods prior to and including the last trading day, respectively.

In respect of comparable companies, Cordlife recorded a net loss attributable to equity holders of the company and a negative EBITDA for FY2024.

In addition, the company’s price to net asset values (P/NAV) ratio of 0.54 times is below the range as well as the mean and median P/NAV ratios of the comparable companies.

As a result, the IFA recommends rejecting the partial offer.

Follow the link for more news on

Cordlife Group

mergers and acquisitions

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia