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Source: Media Outreach

Introduces Chartwell Capital as strategic investor
HONG KONG, CHINA – Media OutReach – 5 October 2020 – Jia Group Holdings Limited (“Jia Group” or the “Group”, HK stock code: 8519) announced that the Group completed the placing of 172 million new shares at HK$0.08 per share, and the net proceeds of the placing are approximately HK$13.2 million. The placing received positive responses and was oversubscribed, reflecting capital market’s optimistic view on the Group’s operations and prospects. In addition, the Group is delighted to introduce Chartwell Capital as strategic investor. Upon completion of the transaction, Chartwell Capital will hold approximately 5.2% of the enlarged share capital of Jia Group.

The net proceeds from the placement of new shares will be used to develop the cloud kitchen business of the Group; upgrade the sales channels of the Group including “JIA Everywhere”, the online/offline delivery platform of the Group; invest in potential PRC or overseas food and beverage related investment opportunities; develop new catering outlets of the Group and brand management; and repay loan to further strengthen financial capability.

Ms. Wong Pui Yain, Chairperson of Jia Group, said, “Our group is a leading F&B operator with strong brand value and growth potential in the Greater Bay Area. Our new catering tech business will disrupt the food scene that help our Group capture growth opportunity.  In addition, we are very pleased to have Chartwell Capital as one of our strategic investors of the Group. Chartwell’s many years of experience will help our group broaden capital base and capture growth opportunities to achieve optimal shareholder value.”

Mr. Ronald Chan, Founder and Chief Investment Officer of Chartwell Capital Limited, said, “We are delighted to become a strategic investor in Jia Group and support its cloud kitchen development to broaden its sales channels and brand positioning. We see the management team proactively repositioning the company for a post-pandemic business environment. As patient investors, we see the shareholder value they are creating by improving their profitability and operating efficiency over the long-term.”

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