Nanjing Xinjiekou continues share offer amidst Cordlife suspension

The MOH has extended Cordlife’s suspension by three months.

Cordlife has received a fifth letter from SAC Capital on behalf of Nanjing Xinjiekou (NJXJK) on the substantial shareholder's proposal to acquire Cordlife's remaining shares.

SAC stated that it will continue to closely monitor developments related to the company, especially the Ministry of Health's (MOH) decision to extend Cordlife's suspension by three months.

The developments include the potential financial impact of the extended suspension of Cordlife’s operations and its progress in receiving MOH’s approval to resume operations as soon as possible.

As of the fifth Letter received on 24 June, NJXJK is still considering making the potential offer, whilst SAC is furthering the discussions with NJXJK on the potential offer’s terms.