FinTechFunding

Stemcell United: Acquires 50pc of Lantene

  • Stemcell United (SCU) has signed an agreement to acquire 50.1 per cent of Shenzhen Lantene Dingzhi Biotechnology
  • Lantene established in 2005 and is an aquaculture company in China specialising in the commercial scale cultivation and sale of sea grapes
  • Sea grapes area kind of algae species found in the coastal regions in the Indo-Pacific
  • To acquire the 50.1 per cent, Stemcell will also issue 30M shares at 1.8 cents, for a total of $540,000 and a 20 per cent share of subsidiary, Stemcell Essential
  • Then the acquisition expected to completed by November 15
  • Stemcell has ended the day 5.56 per cent in the green with shares trading for 1.9 cents each
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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