Enchem to Pursue Local Capital Raising via Reverse Triangular Merger with U.S.-listed Company

Enchem announced on the 15th that its U.S. subsidiary Enchem Americas will merge with a special purpose company (SPC) fully owned by TGHL, after which Enchem will acquire new shares in TGHL to secure an 85% equity stake. TGHL is a blockchain-based agri-food supply chain solutions firm. Upon completion of the merger, the SPC will dissolve, and Enchem Americas will remain as the surviving entity. The governance structure will be reorganized into the 'Enchem-TGHL-Enchem Americas' framework, with Enchem retaining majority ownership and control over U.S. operations. Post-merger, Enchem plans to raise up to $200 million in staged capital through capital call mechanisms, with actual amounts and timing dependent on transaction completion, investment terms, and market conditions. Proceeds will fund production base strengthening, North American customer engagement, and local business expansion, enhancing U.S. competitiveness and group financial flexibility. Enchem emphasized the merger's strategic value in securing local capital market recognition and long-term growth funding while maintaining shareholder protections and market communication. The transaction will proceed through SEC review, registration filings, and other closing conditions, with completion expected by October 8th. Enchem will disclose progress, SEC review status, and investment updates per regulatory requirements, and will conduct shareholder meetings, investor briefings, and FAQs to explain the transaction structure and capital utilization plans.