-- Lincotrade & Associates (SGX:BFT) 50% owned subsidiary, Linc-A, signed a non-binding term sheet to acquire 100% of Opto-Pharm for SG$17 million, according to a Tuesday filing with the Singapore Exchange.
Shares of the industrial fitting-out services provider were down over 3% in Wednesday trading.
Opto-Pharm is involved in the manufacturing and distribution of pharmaceutical ophthalmic and other solutions and owns properties in Tuas Avenue.
The move is part of the company's strategy to expand its operations and support services.