Texchem stake sale unveils value

Texchem will continue to grow its Sushi King chain to 103 outlets this year from the existing 89.

THINLY-TRADED Texchem Resources Bhd has seen much higher trading volume since last November after it announced the sale of a 28% stake of Sushi Kin Sdn Bhd to Japanese fast-food restaurant giant Yoshinoya Holdings Co Ltd for RM102.2mil.

Following the announcement, Texchem’s share price shot up by 27% from 82.5 sen to RM1.05.