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Mary Chia seeks extension to raise public float, keep listing
SLIMMING services chain Mary Chia Holdings on Monday said that it has applied for an extension of up till March 9, 2018 to raise its public float to at least 10 per cent. This would allow it to keep its listing status.
Trading of the company's shares has been suspended since Oct 9, 2017 after a mandatory unconditional cash offer.
The offeror is Suki Sushi, which is controlled by Lee Boon Leng, the husband of Mary Chia Holdings' chief executive, Ho Yow Ping. Ms Ho is the daughter of founder Mary Chia, who resigned as non-executive chairman in October.
The offer for Mary Chia Holdings was triggered after Suki Sushi entered into a deal to acquire 60.98 per cent of the firm from Ms Chia for S$11 million. Suki Sushi now has a 93.18 per cent stake in the firm.
Suki Sushi operates Japanese restaurants in Singapore under various brands including Nihon Mura Kaiten and Sakura.