Q&M Dental subsidiary Aoxin launches rights issue
Q&M Dental Group's subsidiary, Aoxin Q&M Dental Group, is launching a renounceable non-underwritten rights issue of up to 511,522,048 new shares at $0.030 each, potentially raising $15.35 million. Q&M Dental will fully support the exercise, subscribing for its entitlement of 269,323,546 shares for $8.08 million and applying for additional shares for $7.27 million. The rights issue aims to enhance Aoxin's working capital and financial position for expansion in China, pending regulatory approvals.
The total investment could reach $15.35m.
Q&M Dental Group (Singapore) Limited has announced that its subsidiary, Aoxin Q&M Dental Group Limited, will undertake a renounceable non-underwritten rights issue of up to 511,522,048 new ordinary shares at $0.030 per share.
The issue will be offered on the basis of one new share for every existing share held as at a record date to be determined.
Q&M Dental has given an irrevocable undertaking to fully support the exercise.
The company will subscribe for its full entitlement of 269,323,546 rights shares for a total subscription amount of $8.08m and will also apply for up to 242,198,502 additional shares not taken up by other shareholders for up to $7.27m.
This represents a total potential investment of $15.35m, or 100% of all available rights shares.
Q&M Dental currently holds 269,323,546 Aoxin shares, representing approximately 52.65% of Aoxin’s issued share capital.
The rights issue is intended to strengthen Aoxin’s working capital and financial position, supporting its expansion in China and enhancing financial flexibility for operations and investments.
The proposed rights issue remains subject to regulatory approvals, including the SGX-ST listing and quotation notice and lodgement of the offer information statement with the Monetary Authority of Singapore.
As at 30 June 2025, Aoxin reported a book value of $14.49m, net tangible assets of $9.12m, and net profit of $189,000 attributable to the proposed shares.
Based on the volume-weighted average price of S$0.058 per share on 10 October 2025, the open market value of the shares is approximately $29.67m.
