New Century International Pte. Ltd.’s US$281.25 million sale of HTL Marketing Pte. Ltd. to HomesToLife Ltd.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, advised New Century International Pte. Ltd. on the US$281.25 million sale of its 100% interest in HTL Marketing Pte Ltd (“HTL Marketing”) to NASDAQ-listed HomesToLife Ltd (“HomesToLife”). The purchase consideration was satisfied by the issue of 75 million new shares in HomesToLife based on the closing price of US$3.75 per share. HTL Marketing is a leading procurer and supplier of premium upholstered sofas and leather materials for sofa manufacturing which exports its products to about 50 countries in Europe, Asia-Pacific, and North America through a broad network of sales partners and retailers. HomesToLife is one of the leading home furniture retailers that offers and sells customised furniture solutions in Singapore. Partners Danny Lim and Cheryl Tay from the Capital Markets / Mergers & Acquisitions Practice led the transaction.