Biosensor has been buying back its own shares since Nov 2012 when it bought it first bought its share back then at about $1.08...
see below
16-01-2013, 11:27 PM #11
chensing
Senior Member
Join Date: Aug 2008
Posts: 1,297
Bought some today 1.19-1.20 cant catch the low $1.185..lowest share buy back in Dec 2012 was about $1.17 so I think will drop further,,hence went in
That was my comments in another forum....I still added another 50 lots 98.5-99cts ytday 23 Oct..hope it will go up from here..my reasoning is Bios has been buying back from ab 83cts to 95cts and even in Nov 2012 when it first bought back at $1.08 and then wennt all the way back to a high $1.40..I was lucky to bail lock stock barrel out completely $1.35 and saw it spiral downwards to about 83cts..near this price its CFO bought..I recalled..but friends here must be very patient with Biosensor rather than park your money in silly bank accounts earning peanuts
Citic Private Equity Funds Management Co. is considering buying full control of medical devices maker Biosensors International Group Ltd. (BIG) , said two people with knowledge of the deliberations.
The Beijing-based firm, an arm of China’s state-backed Citic Group Corp. conglomerate, is in talks with several banks about financing for a deal, said the people, who asked not to be identified because the information is
private. It owns about 22 percent of the Singapore-listed company, which had a market value of S$1.5 billion ($1.2 billion) as of yesterday.
Biosensors shares jumped today.
Citic Private Equity is considering an offer for the rest of Biosensors after the company lost about half its value from a February 2012 peak, the people said. It could be the second-largest buyout by a Chinese private equity firm in the past decade, based on Biosensors’ market capitalization, data compiled by Bloomberg show.
The Chinese private-equity firm bought the stake in Biosensors in November from Shandong Weigao Group Medical Polymer Co. for $312.3 million, or S$1.05 per share, according to exchange filings. Biosensors shares have
fallen 17 percent since then to close at S$0.87 yesterday.
The stock surged as much as 10 percent today, the biggest intraday gain since September 2010.
Biosensors makes medical devices including drug-eluting stents, which are used to prop open blocked arteries. Its net income for the three months ended Dec. 31 fell by more than half to $11.1 million.
Four calls to Citic Private Equity’s head office in Beijing went unanswered. John Wong, Singapore-based head of investors relations at Biosensors, declined to comment.
Hony Capital Ltd., a private-equity fund backed by the parent of Chinese computer maker Lenovo Group Ltd. (992), bought a stake in Biosensors for S$0.8888 a share in 2010 and now holds about 16 percent of the company, according to data compiled by Bloomberg.
To contact the reporters on this story: Zijing Wu in Hong Kong at zwu17@bloomberg.net; Cathy Chan in Hong Kong at kchan14@bloomberg.net
To contact the editor responsible for this story: Philip Lagerkranser at
lagerkranser@bloomberg.net
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