The Business Times
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HOCK LOCK SIEW

Owners of discounted property groups should emulate Sakae’s Douglas Foo

Leslie Yee

Leslie Yee

Published Wed, Aug 2, 2023 · 05:00 AM
    • Sakae's Douglas Foo looks to have snared a great deal with his proposed sale of about 20 per cent of the F&B group to Makara Capital.
    • Sakae's Douglas Foo looks to have snared a great deal with his proposed sale of about 20 per cent of the F&B group to Makara Capital. PHOTO: BT FILE

    SAKAE Holdings ’ founder and executive chairman Douglas Foo may have struck a great deal.

    Foo recently inked an agreement with Makara Capital to sell 27.8 million shares in Sakae, or about 20 per cent of the food and beverage group, for S$26.5 million. The sale completion is set for Sep 12 and is conditional on various conditions being met.

    The sale price works out to around S$0.953 per share or over nine times Sakae’s closing price of S$0.099 on Jul 18, prior to the deal’s announcement early on Jul 19.

    Property developersSingapore StocksSakae HoldingsHock Lock SiewSpotlight

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