Home News Deals, joint ventures & alliances

Credence Partners sells entire stake in Kim Heng to Hildrics Capital at 10.5 cents each

The Edge Singapore
The Edge Singapore6/5/2022 10:31 PM GMT+08  • 1 min read
Credence Partners sells entire stake in Kim Heng to Hildrics Capital at 10.5 cents each
Photo: The Edge Singapore
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Credence Capital has sold its entire stake in offshore support service provider Kim Heng to Hildrics Capital.

The married deal of nearly 125 million shares, equivalent to 17.71% of Kim Heng, was done on June 3 at 10.5 cents each.

There are notable names on both sides of the deal.

Individuals owning and managing Credence Partners include Koh Boon Hwee, former chairman of leading Singapore Inc names such as Singapore Airlines, DBS Group Holdings and Singapore Telecommunications.

Hildrics Capital, meanwhile, is jointly owned by Choo Kee Siong, a former UOB banker, and Wee Teng Chuen, whose father is UOB CEO Wee Ee Cheong. On May 11, Hildrics announced it has raised some $120 million for its first fund.

Credence Capital, meanwhile, has held its stake in Kim Heng since its IPO back in 2014.

See also: YKGI enters into non-binding MOU with Pin Si Kitchen

Tan Chow Boon, managing partner of Credence Partners, sits on Kim Heng's board since 2013 as a non-executive director.

Kim Heng, headed by executive chairman and CEO Thomas Tan Keng Siong, has repositioned itself to support the renewable energy sector clients too.

Kim Heng shares closed on June 3 at 11 cents, up 1.8% for the day and 41.25% year to date.

Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.