CTR HOLDINGS (01416) proposes to issue 275 million shares at a premium of approximately 22.22% to acquire a construction company in Singapore.

CTR Holdings (01416) announced that on July 21, 2026 (after the trading session on the Stock Exchange), the company intends to acquire all the issued, issued and fully paid-up share capital of CT Contractors Pte. Ltd. from Mr. Cai Shuihuo for a consideration of HK$60.5 million. The acquisition will be paid through the issuance of 275 million shares of consideration shares, with an issue price of HK$0.22 per share, representing a premium of approximately 22.22% over the closing price of HK$0.18 per share reported on the Stock Exchange on July 21, 2026. It is reported that the target company is a construction company based in Singapore, mainly providing labor for construction projects and also offering general construction services. Over the past six years, it has been one of the subcontractors of the group. Since 2025, the target company has decided to adjust its operational model by increasing the deployment of its own direct labor team for its construction projects and reducing the supply of labor to customers. Due to the change in operational model and the failure to achieve the expected returns from construction projects, the target company's earnings decreased significantly from approximately S$23.81 million in 2024 to approximately S$15.93 million in 2025.