Potential sale of IOPtima to a Chinese firm
BioLight’s IOPtima subsidiary (of which BioLight holds a 70% ownership stake) signed a non-binding term sheet on 19 April 2017 for it to be acquired by a Chinese company, Chengdu Kanghong Pharma. While there is uncertainty on whether the deal will proceed, the transaction could potentially provide IOPtima shareholders with $17m (NIS62m) within six months of completion. Our model, which does not yet include this proposed transaction, derives an rNPV valuation of NIS98.5-106.9m.
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