The owners will be issued $4.9m worth of Q&M shares.
Mainboard-listed Q&M Dental has entered into a binding points of agreement with the owners of Lee & Lee Dental to fully acquire the homegrown private dental surgery.
The consideration will be paid in cash and shares. $5.13 million will be paid in cash whilst the remaining $4.87 million will be paid by way of an issuance of Q & M’s shares at an issue price of $0.72 per share, amounting to 6,763,888 shares.
Lee & Lee Dental was founded in 1984 and is one of Singapore’s most established private dental surgeries practice.