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Suki Sushi to acquire 61% of Mary Chia Holdings

SUKI Sushi Pte Ltd has agreed to acquire 61 per cent of Mary Chia Holdings for S$11 million, with the intention to keep the listing status of the Catalist-listed lifestyle and wellness firm.

In a Singapore Exchange filing on Thursday by Mary Chia, the offer document said: "The offeror has today entered into an agreement with Mdm Chia Ah Tow Mary to acquire from MC in aggregate 99,707,046 shares, representing approximately 60.98 per cent of the total number of shares, for an aggregate cash consideration of S$11,000,000."

This translates to an amount of about S$0.111 in cash for each offer share.

"After the acquisition, the offeror and the other relevant persons owns and/or controls an aggregate of 132,387,046 shares, representing approximately 80.97 per cent of the total number of shares," the document added.

Mary Chia closed trading at S$0.067 on Thursday, up S$0.001, or 1.5 per cent.