이 기사는 2021년 09월 07일 08:07 thebell 에 표출된 기사입니다.

Singapore-headquartered private equity (PE) firm Affirma Capital will acquire a controlling stake in Golden Throat Holdings, a leading manufacturer of lozenges in China.

Affirma Capital will acquire a 25.6% stake in the Hong Kong-listed company for HK$530 million (about 80 billion won), or HK$2.80 apiece, a 26% premium to Golden Throat's last closing price, accoding to industry sources on Friday. Affirma Capital’s Korean fund and a global fund will finance about 50% of the acquisition cost, respectively.

Founded in 1956, Golden Throat is the largest lozenges manufacturer in China, with a market share of 25%.

The PE firm plans to withdraw the listing of the company from the Hong Kong Stock Exchange and list it on the Chinese stock market to increase its corporate value.

Affirma Capital is preparing to get approval from the Hong Kong Stock Exchange and Hong Kong Securities and Futures Commission and plans to submit its Scheme Document around September 21. The transaction is likely to be completed around November.

Affirma Capital's fifth Korean Fund, which will finance the deal, initially closed at 450 billion won at the end of last year, with final closing expected in October. It has made three investments since its first closing.

Affirma Capital has been spun out of Standard Chartered Bank after a complex three-year process involving over 50 investments across six regions. The firm not only uses each region’s individual funds for investment, backed by local institutional investors, but also capitalizes on a global pool of capital by using its Global Fund series, formed mainly for principal investments. (Reporting by Hee-yeon Han)