SINGAPORE - "Popiah king" Sam Goi has agreed to buy an 8.33 per cent stake in Sunningdale Tech, a Singapore-listed maker of precision plastic components, for $12.5 million.
Mr Goi, the food tycoon who controls spring roll wrap maker Tee Yih Jia Foods, will buy 76.5 million new shares in Sunningdale Tech at 16.33 cents each, the company said on Friday.
Sunningdale Tech will also sell another 76.5 million new shares at the same price to Yarwood Engineering, a unit of Singapore-headquartered alcohol distributor Kong Siang Group.
The issuance and placement of these shares will raise a total of about $25 million for Sunningdale Tech, the company said.
The new shares will account for about 16.7 per cent of Sunningdale's enlarged share capital after the issuance.