---
title: "Fragrance Group tycoon Koh Wee Meng, Aspial launch bid to take AF Global private"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/260228539.md"
description: "A consortium led by Aspial Corp and Koh Wee Meng has initiated a bid to privatize AF Global, offering 11 cents per share for the remaining 27.35% stake, totaling approximately $31.8 million. Aspial holds a 41.75% stake, while Koh owns 30.91%. The move aims to provide management with more flexibility and reduce costs associated with being listed, as AF Global has not raised funds through equity markets since 2010. The offer represents a 23.6% premium over the last closing price of 8.9 cents, and AF Global shares rose to 10.9 cents following the announcement."
datetime: "2025-10-08T03:25:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/260228539.md)
  - [en](https://longbridge.com/en/news/260228539.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/260228539.md)
---

# Fragrance Group tycoon Koh Wee Meng, Aspial launch bid to take AF Global private

SINGAPORE - A consortium comprising Aspial Corp and property tycoon Koh Wee Meng has launched a bid to privatise mainboard-listed AF Global via a scheme of arrangement.

Aspial and JK Global Investment each hold 50 per cent of the shares within the consortium, AFG Investment.

JK Global Investment is wholly-owned by Mr Koh. He is founder, executive chairman and chief executive officer of Fragrance Group, which he took private in 2021.

AFG Investment’s board of directors comprises Mr Koh and his younger brother, Koh Wee Seng, CEO of Aspial.

Aspial already owns a 41.75 per cent stake in AF Global, while Mr Koh Wee Meng owns 30.91 per cent of the target company.

Their consortium is proposing to buy the remaining 27.35 per cent stake in AF Global for 11 cents per share - making for a total outlay of about $31.8 million.

AF Global is an investment holding company which owns and operates hotels and serviced residences in Singapore, China, Thailand, Vietnam, and Laos.

The offeror said that privatising AF Global will give it and the firm’s management more flexibility to manage business and optimise capital resources without the corresponding costs and regulatory restrictions associated with a listing on the Singapore Exchange.

It noted that AF Global’s listing status serves “limited purpose” as the group has not tapped on the equity markets to raise funds since 2010 and is unlikely to do so, yet it continues to incur substantial costs associated with being listed.

It added that the offer is an opportunity for scheme shareholders to exit their investment which may otherwise be difficult due to the stock’s low liquidity

The offer price of 11 cents represents a premium of about 23.6 per cent over AF Global’s closing price of 8.9 cents on Sept 29, which is the last undisturbed trading day before AF Global announced that it reviewing opportunities to unlock shareholder value.

Shares of AF Global jumped 13.5 cents, or 1.3 cents, to 10.9 cents as at 10.50am at Oct 8. Aspial shares dropped 1.9 per cent, or 0.2 cent, to 10.1 cents.

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