Lim left Dyna-Mac last December after Korean conglomerate Hanwha took control Teo is best known for leading the Super Coffee group and selling it to Jacobs Douwe Egberts back in 2013 for $1.45 billion.

At 45 cents each, the issue price is a premium of around 24.4% to the volume weighted average price of 36.16 cents per share for trades done on May 26.

 

Upon completion of the subscription, Lim will have a stake of 16.7% in the company.

" The board believes that the proposed subscription will augment and strengthen the group&rsquo s financial position and provide flexibility to capitalise on growth opportunities," reads the company' s announcement on May 29.

Fuji Offset Plates Manufacturing plans to use net proceeds of some $4.35 million to finance the expansion, growth, and development of the group' s businesses and operations.

This can be through capital expenditure, acquisition of strategic assets through mergers and acquisitions or by other similar
means.