PRIMEPARTNERS Corporate Finance, as sponsor of Singapore-listed coffee shop operator Kimly, has said that the firm’s executive director Vincent Chia, was the key person driving the company’s initial public offering (IPO) - instead of Pokka's former chief executive Alain Ong, who is being sued by the beverage giant alleging he was part of a conspiracy that had caused the drinks maker to suffer at least S$10 million in losses. Read more at The Business Times.
PRIMEPARTNERS Corporate Finance, as sponsor of Singapore-listed coffee shop operator Kimly, has said that the firm’s executive director Vincent Chia, was the key person driving the company’s initial public offering - instead of Pokka's former chief executive Alain Ong, who isalleging he was part of a conspiracy that had caused the drinks maker to suffer at least S$10 million in losses.
Pokka has accused Mr Ong of working with others to divert business to another beverage company, Asian Story Corporation , and of inflating the value of ASC in anticipation of its acquisition by Kimly. Pokka alleged that Mr Ong, whose wife is actress Vivian Lai, has breached his duties as a director and employee.
In response to queries by the Singapore bourse, Kimly's sponsor said Mr Chia was the key person who dealt with the issue manager during the IPO due diligence process. The sponsor added that its contact point with the company is Karen Wong, the former chief financial officer who is now an executive director of finance at Kimly.
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