BRIEF: Tam Jai privatization overwhelmingly approved by shareholders
Hong Kong rice noodle chain Tam Jai International Co. Ltd. (2217.HK) announcedon Monday that its privatization plan was approved by an overwhelming majority of its shareholders. Following that development, the company’s shares will have their last trading day on July 28 and will be delisted after market close on Aug. 19.
According to its announcement, 99.7% of votes were in favor of the privatization and only 0.29% were against. Among independent shareholders, the objection rate was just 0.13%.
Tam Jai’s controlling shareholder, Toridoll Holdings (3397.T), proposedthe privatization plan in February, offering HK$1.58 per share — a 52.6% discount from its 2021 IPO price of HK$3.33. The company said it was unable to fully realize the potential of its overseas expansion plans, whereas Toridoll possesses the resources and expertise to better support international growth and strengthen internal operations to face industry challenges.
For its fiscal year ended March 2025, Tam Jai reported a 32.7% year-on-year profit decline to HK$79.84 million（$10.17 million）, while its revenue increased 3.4% to HK$2.84 billion.
By Lee Shih Ta
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