SINGAPORE (May 18): Aoxin Q&M Dental Group has entered into a memorandum of understanding (MOU) with an individual, You Zhongjiang, to acquire 100% of the shareholdings in Youxin Dental Clinic in China for RMB19.6 million ($4.13 million).

According to the MOU, You will be restructuring Youxin Dental into a limited liability corporate entity, named as Jinzhou Aoxin Youxin Dental Hospital.

Located in Jinzhou City, Liaoning Province, the dental clinic has been operating since 1995.

The group intends to fund the acquisition through its initial public offering (IPO) proceeds and internal cash resources.

Shares in Aoxin Q&M closed at 23 cents on Friday.