SINGAPORE - PrimePartners Corporate Finance said Kimly executive director Vincent Chia was the key person driving the coffee shop operator's initial public offering - not Pokka's former chief executive Alain Ong, who is being sued by the beverage giant alleging he was part of a conspiracy that had caused the drinks maker to suffer at least $10 million in losses.
In response to queries by the Singapore bourse and referring to a media report that Mr Ong was the mastermind of Kimly's IPO and the acquisition ASC, PrimePartners said Mr Chia was the key person who dealt with the issue manager during the IPO due diligence process. As the continuing sponsor is not part of the working group for the acquisition of ASC, PrimePartners mainly communicated with Ms Wong on the company's disclosure obligations under the Catalist Rules, according to Kimly's responses to SGX queries.
Kimly noted on Tuesday that the investigation by the Commercial Affairs Department is still ongoing.
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