HONG KONG -- Japanese billionaire-owned restaurant operator Toridoll is taking Hong Kong-listed noodle chain Tam Jai International private after only three and a half years in the public market as local retail consumption slumps amid shifting spending patterns and a stagnant economy.
Toridoll indirectly owned around 74% of Tam Jai shares, including unexercised stock options, as of the announcement Monday night. The Japanese parent intends to purchase the remaining stock and unexercised options for up to 556 million Hong Kong dollars ($71.5 million), delisting the company from the Hong Kong market.
