Jia Group’s Issuance of New Shares is Oversubscribed, Well-received by the Market

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Introduces Chartwell Capital as strategic investor

 

HONG KONG, CHINA – Media OutReach – 5 October 2020  Jia Group Holdings Limited (“Jia Group” or the “Group”, HK stock code:
8519) announced that the Group completed the placing of 172 million new shares
at HK$0.08 per share, and the net proceeds of the placing are approximately
HK$13.2 million. The placing received positive responses and was
oversubscribed, reflecting capital market’s optimistic view on the Group’s
operations and prospects. In addition, the Group is delighted to introduce
Chartwell Capital as strategic investor. Upon completion of the transaction,
Chartwell Capital will hold approximately 5.2% of the enlarged share capital of
Jia Group.

 

The net proceeds
from the placement of new shares will be used to develop the cloud kitchen
business of the Group; upgrade the sales channels of the Group including “JIA
Everywhere”, the online/offline delivery platform of the Group; invest in
potential PRC or overseas food and beverage related investment opportunities;
develop new catering outlets of the Group and brand management; and repay loan
to further strengthen financial capability.

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Ms. Wong Pui Yain,
Chairperson of Jia Group, said, “Our group is a leading F&B operator with
strong brand value and growth potential in the Greater Bay Area. Our new
catering tech business will disrupt the food scene that help our Group capture
growth opportunity.  In addition, we are
very pleased to have Chartwell Capital as one of our strategic investors of the
Group. Chartwell’s many years of experience will help our group broaden capital
base and capture growth opportunities to achieve optimal shareholder value.”

 

Mr. Ronald Chan,
Founder and Chief Investment Officer of Chartwell Capital Limited, said, “We
are delighted to become a strategic investor in Jia Group and support its cloud
kitchen development to broaden its sales channels and brand positioning. We see
the management team proactively repositioning the company for a post-pandemic
business environment. As patient investors, we see the shareholder value they
are creating by improving their profitability and operating efficiency over the
long-term.”

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About Jia Group

Jia Group is a
well-established restaurant group in Hong Kong. From Michelin starred dining
rooms to cool and calm spaces where no reservations are needed, restaurants and
bars under the Group have their own characteristics, spanning both Eastern and
Western fare, with commonality being their authenticity.

Today, the Group
has more than 10 restaurants and bars in Hong Kong, including Duddell’s Hong
Kong, Louise, Andō, MONO, 22 Ships, 208 Duecento Otto, Potato Head Hong Kong,
Chachawan, Duddell’s Hong Kong Airport, serving a variety of cuisines including
Chinese, Thai and French dishes under different brands and themes, offering an
international portfolio of authentic dining experience. To learn more about the
Group, please visit Jia Group’s website at https://www.jiagroup.co

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About Chartwell Capital

Founded in 2007,
Chartwell Capital seeks overlooked and undervalued investment opportunities in
the Asia-Pacific region. As a long-term and friendly investor, we aim to unlock
and create sustainable value for our invested companies. From implementing
stronger ESG and corporate governance, setting the right corporate performance
metrics, giving recommendations on succession planning to cultivating new
business relationships, our goal is to leverage on our business intelligence
and regional networks to deliver superior returns to our stakeholders and the
wider community. To learn more about the company, please visit Chartwell
Capital’s website at http://www.chartwell-capital.hk

Jia Group's Issuance of New Shares is Oversubscribed, Well-received by the Market

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Jia Group's Issuance of New Shares is Oversubscribed, Well-received by the Market - Brand SpurJia Group's Issuance of New Shares is Oversubscribed, Well-received by the Market - Brand Spur

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