Healthbank Holdings Ltd. (SG:40B) has released an update.
HealthBank Holdings Limited has announced the termination of a significant acquisition after a directive from SGX RegCo classified the move as either a very substantial acquisition or a reverse takeover. The company has incurred $165,000 in fees and expenses but anticipates no further liabilities. Initially, the Board focused on the commercial promise of the acquisition and conducted due diligence, including an independent valuation based on International Valuation Standards.
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