Medi Lifestyle (SGX:Z4D) entered into a loan agreement with Lingholm Holdings for an interest-free loan amount to up to SG$2.1 million, according to a filing with the Singapore Exchange on Monday.
The loan is in addition to a non-interest bearing loan of SG$1.3 million provided by Lingholm on Feb. 27.
The loan is repayable within 12 months from the date of the last disbursement date and the proceeds will be used for working capital and for business development and investment.
Shares of the health firm surged over 9% in recent trading.
Price (SGD): S$18239.92, Change: S$+140, Percent Change: +0.80%
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