Jia Groups Issuance of New Shares is Oversubscribed, Well-received by the Market

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Introduces Chartwell Capital as strategic investor

CHINA – Media OutReach – 5 October 2020 – Jia Group Holdings Limited (“Jia Group” or the “Group”, HK stock code: 8519) announced that the Group completed the placing of 172 million new shares at HK$0.08 per share, and the net proceeds of the placing are approximately HK$13.2 million.

The placing received positive responses and was oversubscribed, reflecting capital market’s optimistic view on the Group’s operations and prospects. In addition, the Group is delighted to introduce Chartwell Capital as strategic investor. Upon completion of the transaction, Chartwell Capital will hold approximately 5.2% of the enlarged share capital of Jia Group.

The net proceeds from the placement of new shares will be used to develop the cloud kitchen business of the Group; upgrade the sales channels of the Group including “JIA Everywhere”, the online/offline delivery platform of the Group; invest in potential PRC or overseas food and beverage related investment opportunities; develop new catering outlets of the Group and brand management; and repay loan to further strengthen financial capability.

Ms. Wong Pui Yain, Chairperson of Jia Group, said, “Our group is a leading F&B operator with strong brand value and growth potential in the Greater Bay Area. Our new catering tech business will disrupt the food scene that help our Group capture growth opportunity. In addition, we are very pleased to have Chartwell Capital as one of our strategic investors of the Group. Chartwell’s many years of experience will help our group broaden capital base and capture growth opportunities to achieve optimal shareholder value.”

Mr. Ronald Chan, Founder and Chief Investment Officer of Chartwell Capital Limited, said, “We are delighted to become a strategic investor in Jia Group and support its cloud kitchen development to broaden its sales channels and brand positioning. We see the management team proactively repositioning the company for a post-pandemic business environment. As patient investors, we see the shareholder value they are creating by improving their profitability and operating efficiency over the long-term.”

About Jia Group
Jia Group is a well-established restaurant group in Hong Kong. From Michelin starred dining rooms to cool and calm spaces where no reservations are needed, restaurants and bars under the Group have their own characteristics, spanning both Eastern and Western fare, with commonality being their authenticity.

Today, the Group has more than 10 restaurants and bars in Hong Kong, including Duddell’s Hong Kong, Louise, Andō, MONO, 22 Ships, 208 Duecento Otto, Potato Head Hong Kong, Chachawan, Duddell’s Hong Kong Airport, serving a variety of cuisines including Chinese, Thai and French dishes under different brands and themes, offering an international portfolio of authentic dining experience.

About Chartwell Capital
Founded in 2007, Chartwell Capital seeks overlooked and undervalued investment opportunities in the Asia-Pacific region. As a long-term and friendly investor, we aim to unlock and create sustainable value for our invested companies.

From implementing stronger ESG and corporate governance, setting the right corporate performance metrics, giving recommendations on succession planning to cultivating new business relationships, our goal is to leverage on our business intelligence and regional networks to deliver superior returns to our stakeholders and the wider community.