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Uscom Limited ( (AU:UCM) ) just unveiled an announcement.
Uscom Limited has announced a General Meeting to seek shareholder approval for the sale of its main undertaking, Uscom Sng Pte. Ltd, to AXO Medtech VCC. This strategic move is driven by Uscom’s ongoing financial challenges, including sustained losses and negative cash flow, which have hindered its ability to raise capital and develop its business. The sale is expected to provide the necessary capital for Uscom’s operations to become profitable, with AXO Medtech VCC intending to continue Uscom’s current business operations, retain employees, and enhance global operations.
More about Uscom Limited
Uscom Limited operates in the medical technology industry, focusing on the development and distribution of advanced medical devices. The company has a significant presence in China and Singapore, with its primary products and services aimed at enhancing global healthcare operations.
Average Trading Volume: 188,259
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$3.12M
For an in-depth examination of UCM stock, go to TipRanks’ Overview page.