Fabchem China in $25 mil RTO deal, to transfer listing to Catalist board

Felicia Tan
Felicia Tan4/22/2021 7:33 PM GMT+08  • 2 min read
Fabchem China in $25 mil RTO deal, to transfer listing to Catalist board
One of the reasons behind the acquisition is that it allows Fabchem China to maintain its listing status on the SGX-ST.
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Fabchem China has announced a $25 million reverse takeover (RTO) of Lincotrade & Associates, a Singapore-based provider of interior design, renovation, carpentry and joinery services.

The company, on April 22, entered into a sale and purchase agreement (SPA) with Tan Jit Meng, Soh Loong Chow Jackie and Tan Chee Khoon (known collectively as vendors), where it will acquire all the shares in Lincotrade & Associates for a consideration of $25.0 million.

Tan Jit Meng, Soh and Tan Chee Khoon are the directors of Lincotrade & Associates and own 40%, 40% and 20% of shares in Lincotrade respectively.

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