KC Industries Pte. Ltd. announced that it has entered into a conditional subscription and shareholders’ agreement with new investor OneApex Limited (Catalist:5SY) for private placement of 4,000,000 shares at a price of SGD 1 per share for gross proceeds of SGD 4,000,000 on May 18, 2020. The investor will acquire 50% stake in the company. The transaction is subject to approval of shareholders of the investor, third parties, governmental or regulatory body or competent authority, including but not limited to the investor' sponsor, Novus Corporate Finance Pte. Ltd. and/or the Singapore Stock Exchange. The transaction will be completed within 10 business days from fulfillment of conditions.