You are here

Boutique fund investor takes 3.6% stake in Koufu

BOUTIQUE fund investor Albizia Capital has taken a 3.6 per cent stake in Koufu Group through a married share deal, the food court and coffeeshop operator announced on Tuesday night.

Albizia acquired over 20 million shares at Koufu's initial public offering (IPO) price of S$0.63 per share. Of these, seven million shares were bought directly from Koufu's controlling shareholder Jun Yuan Holdings, in which Koufu founders Pang Lim and Ng Hoon Tien each have a 50 per cent stake. The other 13 million shares were acquired from other shareholders.

Following the sale, the two founders' collective shareholdings have fallen to about 428 million shares, representing 77.1 per cent of Koufu's issued share capital.

Albizia holds a capital markets services licence for fund management activities under the Securities and Futures Act, and is regulated by the Monetary Authority of Singapore.

Said Mr Pang, who is Koufu's executive chairman and chief executive officer: "The married deal was completed at the IPO price, in line with Koufu's strategy to expand shareholding support through strategic investors like Albizia Capital. We are confident that with their deep knowledge of the consumer sector, we will be able to tap on their experience and network to further increase Koufu's contacts and opportunities in the F&B space."

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

Koufu shares closed up 0.5 Singapore cent or 0.82 per cent at 61.5 Singapore cents on Tuesday before the announcement.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes