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.
See also: FJ Benjamin to raise $302,400 by placing out new shares to Richard Eu and Dr Rosslyn Leong
Shares in Thakral closed at $1.87, up 5.06% for the day and up more than 133% in the past year.
