CTR HOLDINGS (01416) plans to purchase a Singaporean construction company by issuing 275 million shares at a premium of approximately 22.22%

According to Zhitong Financial App, CTR HOLDINGS (01416) announced that on July 21, 2026 (after the end of the trading session on the Stock Exchange), the company plans to acquire CT Contractors Pte from Mr. Cai Shuihuo. Ltd. The total allotted, issued and fully paid share capital at a cost of HK$60.5 million will be paid through the issuance of 275 million shares. The issue price for each share is HK$0.22, which is approximately 22.22% premium over the closing price of HK$0.18 per share as reported on the Stock Exchange on July 21, 2026.

According to reports, the target company is a construction company based in Singapore. Its main business is to provide construction workers and general construction services. It has been one of the Group's subcontractors for the past six years. Since 2025, the target company has decided to adjust its operating model, increase the deployment of its own direct labor team to carry out its own construction projects, and reduce the supply of labor to customers. Due to changes in operating models and the failure of construction projects to achieve expected returns, the target company's revenue was drastically reduced from approximately S$23.81 million in 2024 to approximately S$15.93 million in 2025.