Attika Group’s majority shareholder has sold 15.6 million ordinary shares in the company for 35 cents per share to various investors on Jan 12.
The majority shareholder, Steven Tan, is the managing director and executive chairman of the group. The sale of shares is to improve share liquidity and optimise capital structure.
From these sales, the company has raised $5.46 million. Tan’s shareholding interest in the group will therefore decrease to 73.09%.
Investors include Areca Capital, Asdew Acquisitions, ICH Synergrowth Fund, Lion Global Investors, and other high net-worth individuals.
Tan has also voluntarily committed to a self-imposed moratorium on any future sale of his shares of the company for a period of six months from the date of completion of this transaction.
Shares in Attika Group closed 2 cents higher or 4.819% up at 43.5 cents on Jan 12.
