More liquidity for Choppies shares :: Mmegi Online

Leading retailer, Choppies Enterprise Limited, has welcomed the acquisition of shares by the Standard Chartered Bank. The bank, through its investment arm Standard Chartered Private Equity (SCPE), bought 13% shares in a transaction believed to be the largest in the history of private equity in the country.

Choppies, CEO Ramachandran Ottappath told Business Today that the move to acquire 13% (150,000,000 ordinary shares) by SCPE from Choppies has improved the company's stature in the financial markets. Ramachandran stated that it would also impact on the company shares, as it will give more liquidity to their equity. "It means there will be more shares in the public float," he said.

He said for SCPE to acquire Choppies shares, they scrutinised the retail giant thoroughly and saw that it is worth investing in, and added that it has greatly improved the image of the company.

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