The holding company of Kokotel, Newlegacy Hospitality Pte. Ltd. in Singapore has received investment from the strategic investor, Relo Group, Inc., through its subsidiary, World Resort Operation, Inc. (WRO).
The investment has been structured through the new issue of a minority percentage of shares of Newlegacy Hospitality. In consequence, the largest of the existing shareholders, REAPRA, remains a significant major shareholder in Newlegacy Hospitality. It is anticipated that this initial investment will be the first in a series, with Relo granted the option to make further investments if the new business partnership proves beneficial. Kokotel, meanwhile, has stated its intention to utilize the proceeds of the investment in achieving the further expansion of its business operations.