Tai Sin Electric's (SGX:500) subsidiary, Lim Kim Hai Electric, subscribed for 333,333 shares in EV Mobility for SG$1.5 million, according to a filing with the Singapore Exchange on Friday.

The shares represent 25% of EV Mobility's share capital, the filing said.

EV Mobility is an electric vehicle charge point operator in Singapore, and the minority stake acquisition is part of the company's strategy to expand into sustainable businesses.

Shares of the company were down nearly 1% at market close.