Food Empire offloads 1 million shares to boost working capital

The deal, made through a married deal, involves an international institutional investor.

Food Empire Holdings Limited has sold 1,000,000 treasury shares at $2.635 per share to an international institutional investor through a married deal.

The sale was conducted to enhance general working capital and shareholder value, according to a bourse filing dated 21 January.

The total value of the shares sold is S$1.95m.

Following the transaction, the group’s treasury shares fell to 3,117,574 from 4,117,574 previously.

Before the sale, treasury shares accounted for 0.75% of the company’s total issued ordinary shares excluding treasury shares. This declined to 0.57% after the transaction, based on 547,025,425 issued ordinary shares.