Food Empire (SGX:F03) sold 1 million treasury shares at SG$2.75 per share to raise nearly SG$2 million by way of a married deal to an institutional investor, according to a Friday filing with the Singapore Exchange.
The sale of shares will help the company generate working capital and improve shareholder value.
Following the sale of the shares, the total treasury shares have decreased to over 2.1 million shares.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.