Last Friday, China’s Shandong Weigao Group Medical Polymer revealed plans to sell its entire 21.7% stake in Biosensors International Group for about S$390.4mil so that it is able to concentrate on its main business. Shangdong Weigao said that it estimates a S$91.4mil loss from the disposal but the proceeds it will receive will go towards strengthening its principal business in medical consumables, blood purification and orthopaedic products.
 
Biosensors has seen some huge moves in the month of November as the shares traded towards $1. It dipped 2.6% yesterday to close at $0.94.

Source: Macquarie Research - 28 Nov 2013