Khong Guan (SGX:K03) has invested SG$900,000 in SGProtein as part of its series A fundraising, increasing its shareholding to 804,013 shares but diluting its equity stake to 22.5%, according to a Tuesday filing on the Singapore Exchange.
Despite SGProtein's negative net asset value of SG$1.7 million, Khong Guan remains confident in its potential for growth in the plant-based protein market.
The investment, funded internally, will not significantly impact the group's FY25 financials.
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