Auric Pacific Group is offering to buy the shares it does not already own in Food Junction at 25.5 cents each, or up to $12 million in all, it said today.
The offer price represents a 38% premium over the volume-weighted average price for the one-month period up to Food Junction's last trading date last Thursday.
The offer was made by APG Strategic Investment, a unit of Auric Pacific Investment Holdings, which in turn is a unit of Auric Pacific Group.
Both APG Strategic Investment and Auric Pacific Investment hold a combined majority 61.42% stake in Food Junction, according to Bloomberg.
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