Thakral (SGX:AWI
) has raised $4.26 million through the sale of 2,367,500 treasury shares at a price of $1.80, which represents a 1.89% shareholding in the company.
ICH Synergrowth Fund has acquired 1,267,500 shares while the remaining 1.1 million shares were acquired by Lion Global Investors.
Thakral explains that this latest transaction will enhance its free float and broaden its shareholder base, to include institutional investors as well.
The proceeds raised will be used for working capital purposes, which includes advancing its growth initiatives in the lifestyle and investment segments.
“With the support of long-term institutional investors, we are well-positioned to execute our growth strategy and continue unlocking value for our shareholders,” says Thakral’s CEO and executive director Inderbethal Singh Thakral.
SAC Capital Private Limited is acting as introducer for this transaction.
Shares in Thakral closed at $1.87, up 5.06% for the day and up more than 133% in the past year.
