Hildrics raises stake in GIIB to 16.6%

KUALA LUMPUR: GIIB Holdings Bhd’s substantial shareholder, HAGF Investment (I) Pte Ltd, a wholly-owned subsidiary of Hildrics Asia Growth Fund I (Hildrics), has increased its equity stake in the group from 8.2% to 16.6%.

It subscribed to the entire tranche of the group’s private placement, making it the single largest shareholder of GIIB.

In a statement, GIIB said the placement shares represented 10% of the group’s total issued shares prior to the placement exercise.

Hildrics is a Singapore-based private equity fund managed by Hildrics Capital Pte Ltd.