Katrina spices up as it partners HK firm

Singapore

SHARES of F&B operator Katrina Group rose on Thursday after the company said it has entered into a non-binding memorandum of understanding with Hong Kong-listed restaurant chain operator Ajisen (China) Holdings. The stock was up 2.5 Singapore cents, or 11.6 per cent, to close at S$0.24. More than 2.4 million shares changed hands.

Under the agreement, the parties will collaborate in opening restaurants under the brand "So Pho" in Hong Kong and China. A definitive agreement is expected to be finalised by the first half of 2017. The proposed collaboration is expected to be by way of franchise or a joint venture.