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RHTLaw Asia has acted for New Development Hotel Management Pte. Ltd. in its subscription of 1,047,218,560 new ordinary shares in the share capital of Pavillon Holdings Ltd for the subscription amount of S$42,935,961.02, which will represent 72.98% of the total enlarged issued and paid up share capital of Pavillon Holdings Ltd. The completion is expected to take place by two tranches by December 2022.
New Development Hotel Management Pte. Ltd. operates and manages business hotels and leisure hotels, conducts hotel operations, and undertakes management of restaurants and inns.
Pavillon Holdings Ltd operates a chain of seafood restaurants specialising in Asian delicacies. In 2017, it diversified into the logistics industry.