Singapore’s Hildrics Capital increases stake in GIIB

KUALA LUMPUR: GIIB Holdings Bhd’s substantial shareholder, HAGF Investment (I) Pte Ltd, a wholly-owned subsidiary of Hildrics Asia Growth Fund I (Hildrics), increased its equity stake in the group from 8.2% to 16.6% after subscribing to the entire tranche of the group’s private placement, making them the single largest shareholder of GIIB.

In a statement, GIIB said the placement shares represented 10% of the group’s total issued shares prior to the placement exercise.

Hildrics is a Singapore based private equity fund managed by Hildrics Capital Pte Ltd, which was founded in 2021 by Choo Kee Siong and Wee Teng Chuen.

Hildrics Capital primarily focuses on direct investments into mid-sized companies with high growth prospects in South-East Asia. Hildrics first emerged as a substantial shareholder of GIIB back in June 2023.