Hor Kew (SGX:BBP) has subscribed for 6.5 million new ordinary shares in its wholly owned subsidiary, Hor Kew Private Ltd., at SG$1 per share, according to a Friday filing on the Singapore Exchange.
The SG$6.5 million investment was offset against an equivalent amount owed by the subsidiary to the parent company.
Following the transaction, Hor Kew Private's issued and paid-up share capital increased to SG$24 million from SG$17.5 million.
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