Palette Multimedia to acquire 51% equity stake in Genopharma

PETALING JAYA: Palette Multimedia Bhd has signed a term sheet to acquire 51% equity stake in biomedicine and herbal medicine company Genopharma Sdn Bhd. 

Upon completion of the acquisition, Palette would issue new shares valued at RM1.53mil. The valuation is based on Genopharma’s price earnings (PE) ratio of 5 times of the financial year 2016 (FY16) net profit of RM600,000.

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