Of these, 7 million shares were bought over directly from Jun Yuan Holdings, Koufu’s controlling shareholder, which is 50% owned by Pang Lim and 50% owned by Ng Hoon Tien. The acquisition of the remaining majority of 13 million shares was from other shareholders.
Albizia Capital holds a Capital Markets Services Licence for fund management activities under the Securities and Futures Act of Singapore and is regulated by the Monetary Authority of Singapore.
Following the sale of shares, the collective shareholdings of the two founders will be reduced to 428.5 million shares or 77.% of the issued share capital of Koufu.
Pang Lim, Koufu’s executive chairman and CEO, says: “We are confident that with their deep knowledge of the consumer sector, we will be able to tap Albizia Capital’s experience and network to further increase Koufu’s contacts and opportunities in the F&B space... We see this as an affirmation and endorsement of our business model and expansion strategy and remain steadfast in our commitment to enhance shareholder value, in preparation for our next phase of growth.”
Shares in Koufu closed 0.5 cent higher at 62 cents on Tuesday.
