HS Optimus (SGX:504) completed the acquisition of a 30% stake in Medicorp and issued 185.2 million shares to the seller, according to a Monday filing with the Singapore Exchange.
Shares of the door manufacturer surged nearly 17% in Tuesday trading.
The new shares are expected to be listed and quoted on or around July 22.
Earlier, the company had agreed to acquire a 30% stake in Medicorp from Lee Rui Ren for SG$4.2 million.
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