Popular bookstore chain bought over by Hong Kong company

The Popular bookstore chain has been operational in Singapore since 1924.SINGAPORE — The Popular bookstore chain has been acquired by a Hong Kong investment company for an undisclosed sum, Chinese newspaper Lianhe Zaobao reported on Thursday .Popular Holdings' businesses include the Popular and other bookstore chains in Singapore, Malaysia, China and the United States.

The investment firm said it identifies "industry leaders that will support and benefit from China's macroeconomics in the long term". The letter added that in addition to its retail, distribution and publishing businesses, Popular will position itself as a comprehensive education service provider to explore opportunities in China and South-east Asia's emerging markets.

Popular Holdings was incorporated in Singapore on Oct 5, 1996, and listed on the mainboard of the Singapore Exchange a year later.

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