SINGAPORE (July 2): ST Group Food Industries, the F&B group with brands like PappaRich, Gong Cha and Hokkaido Baked Cheese Tart, says it has successfully sold 37 million new placement and cornerstone shares to raise $9.6 million.
ST Group is selling the new shares at 26 cents each, in conjunction with its listing on the Catalist board of the Singapore Exchange.
At the close of the placement at 12 noon on Monday, all 30.08 million shares available under the placement were validly subscribed for with application monies received for the placement shares amounting to $7.8 million.
Concurrently, cornerstone investors Chikaranomoto Global Holdings and Hyein Foods Co have subscribed for an aggregate of 6.9 million new shares. Chikaranomoto is a subsidiary of Chikaranomoto Holdings Co, which is listed in Tokyo and owns the Ippudo brand. Incorporated in Korea, Hyein is the owner of the NeNe Chicken brand.
The placement and cornerstone shares represent 15% of the company’s post-placement share capital. Its shares are expected to start trading on a “ready” basis on Catalist at 9am on Wednesday.
