This was in part due to the growing losses from its bakeries in Thailand and China as well as its Wu Pao Chun and Song Fa branches in Hong Kong which were affected by the social unrest there.
Earlier in February, BTG Holding offered to buy all ordinary shares of the company at $0.77 per share, which was roughly 19.3% higher than the closing price of $0.645 on 21 Feb....On Friday (5 Jun 2020), the BreadTalk Group was delisted from the Singapore Exchange (SGX) after the troubled company’s shares were acquired by offeror BTG Holding.
This marked the completion of the privatisation process by BTG Holding, a company jointly owned by BreadTalk’s founder George Quek, his wife Katherine Lee, and Thai food & hospitality firm Minor International.
Even before the COVID-19 outbreak, BreadTalk has not been doing well, as it reported a net loss after tax of $5.2 million in FY2019, compared to a net profit of $15.2m in FY2018.
This was in part due to the growing losses from its bakeries in Thailand and China as well as its Wu Pao Chun and Song Fa branches in Hong Kong which were affected by the social unrest there.
Earlier in February, BTG Holding offered to buy all ordinary shares of the company at $0.77 per share, which was roughly 19.3% higher than the closing price of $0.645 on 21 Feb....
This was in part due to the growing losses from its bakeries in Thailand and China as well as its Wu Pao Chun and Song Fa branches in Hong Kong which were affected by the social unrest there.
Earlier in February, BTG Holding offered to buy all ordinary shares of the company at $0.77 per share, which was roughly 19.3% higher than the closing price of $0.645 on 21 Feb....
