FIL Ltd on 2th July 2013 bought 1.737 million Cordlife shares @ average $1.06. This raised its holding from 13.217 million shares (5.69%) to 14.954 million shares (6.43%)
Shares of Cordlife, which provides cord blood banking services, jumped as much as 7.5 percent with 16.328 million shares traded, 1.2 times the average full-day volume over the past 30 days.
Maybank Kim Eng said in a report today that Cordlife had an "overwhelming" 72 percent market share in Singapore and the entry of a new competitor, a joint venture between AsiaMedic Ltd and Cryoviva International, was not a threat to the company.
Cordlife up 29% to S$1.135 from last Friday’s close. On 4th July 2013 the company, which provides cord-blood banking services, announced that its Indian subsidiary was awarded the International Certificate of Accreditation byAABB for activities relating to the processing, storage and distribution of cord blood.
Cordlife is also keenly looking for opportunities to expand into countries nearby, possibly as early as this financial year, Maybank said. The broker maintained its "buy" rating and S$1.29 target price.
Jeremy Yee, Executive Director and Chief Executive Officer of Cordlife added “AABB is the world’s gold standard in private cord blood banking, and facilities undergo an intensive accreditation process that includes auditing activities such as client education, processing, testing and storage of clients’ precious cord blood units.”
Cordlife’s accreditation in India comes at a good time as the company wants to capture market share in the fast growing private cord blood bank market (with 35% annualised growth rates from 2007-2011) in the country.
FIL Ltd on 11th July 2013 bought 724k Cordlife shares @ average $1.127. This raised its holding from 15.981 million shares (6.87%) to 16.705 million shares (7.19%)
FIL Ltd on 19th July 2013 bought 517k Cordlife shares @ average $1.10. This raised its holding from 18.446 million shares (7.93%) to 18.963 million shares (8.16%)
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