Hatten Land enters $11.4m investment deal with Hungchi Enterprise

The investment aims to strengthen the company's financial position.

Hatten Land entered into an $11.4m investment deal with Hungchi Enterprise, according to a SGX filing.

The investment will be undertaken via placement of new shares in the company. Hungchi Enterprise will acquire not less than 60% and not more than 70% of the enlarged share capital of the company.

Hattend Land said that amongst the proposals it received, Hungchi Enterprise offers a comprehensive suite of resources and strategies for the company and its key stakeholders, including minority shareholders and creditors.

The investment aims to strengthen the company's financial position and support operational and developmental objectives.

The investor must complete its due diligence within two (2) months from the date of agreement.