ICH Synergrowth, Lion Global take 1.89% stake in Thakral Corporation

The treasury share sale was completed at $1.80 per share, raising a total of $4.26m.

Thakral Corporation Ltd said ICH Synergrowth Fund and Lion Global Investors have acquired a combined 1.89% stake in the company for $4.26m, Thakral announced in a press statement.

The investment was executed through the purchase of 2.37 million treasury shares at $1.80 per share. ICH Synergrowth Fund acquired 1.27 million shares, whilst Lion Global Investors, acting for its clients, acquired 1.1 million shares with SAC Capital Private Limited acting as introducer for the transaction.

Thakral said the transaction increases its free float and broadens its shareholder base to include institutional investors with proceeds from the sale to be used for working capital and to support growth initiatives across its lifestyle and investment segments.

Vincent Toe, partner at ICH Synergrowth Fund, said the Singapore small- and mid-cap segment remains underappreciated and contains companies with growth potential whilst adding that Thakral has a strong operating track record and continues to execute its growth strategy.

The transaction marks the introduction of additional institutional investors into Thakral’s shareholder base, the company said.

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