Privatisation by Chinese investor uncertain
BioLight has announced in the last week that the Chinese investor (the Fund), which signed a non-binding letter of intent (LOI) to privatise BioLight, is unable to implement the deal as planned in its original format. BioLight indicates that this is due to recently adopted policies by Chinese authorities that can restrict Chinese investors’ ability to invest capital outside China. The LOI proposed the acquisition of 45% of BioLight’s currently outstanding shares (COS) at a price of NIS16.50 per share. BioLight is holding discussions with the Fund to examine various alternatives that could allow the transaction to continue in its original form or another, but there is no certainty that such a transaction will proceed.
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