Vending Machines International Secures SGD 135 Million Capital Commitment from Global Emerging Markets (GEM) as Company Seeks IPO
The company is looking to go public in the coming year via a reverse merger or a traditional IPO on the Singapore Stock Exchange or the Australian Stock Exchange
SINGAPORE, January 26, 2022–(BUSINESS WIRE)–Vending Machines International (VMI), today announced a capital commitment of SGD 135 million from GEM Global Yield LLC SCS (“GGY”), the private alternative investment vehicle based in Luxembourg.
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Under the agreement, GGY will provide VMI with a share subscription facility of up to SGD 135 million for a period of 36 months following a public listing of VMI’s ordinary shares. VMI will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation.
“VMI is very pleased to have been selected by the GEM Group to receive this investment. It is to the credit of the management of GEM to have understood very quickly that the world is moving towards the elimination of plastics at supply chain single use. VMI is extremely well positioned to benefit from this transition. With funds from GEM to strengthen VMI’s balance sheet, VMI will be able to help the beverage industry by offering a viable alternative to single-use plastic bottles globally. This funding will expand our global reach and further enhance our research and development facilities as we continue to interact with the world’s leading beverage companies.”
Leicester Chatfield – Founder and CEO
Vending Machines International Pte Ltd (VMI) is a Singapore-registered entity that offers unique plastic waste-free water supply solutions. Established in 2015, VMI has successfully developed its own network of water dispensers in Australia designed to fully understand how to interact with its customers and test VMI technology. In the next stage of its development, VMI is moving towards a highly scalable white label and licensing strategy, supported by strong interest from international FMCG brand owners.
Global FMCG companies have shifted to other forms of packaging like tin cans, glass bottles, paper boxes, etc. however, these materials come with trade-offs. Aluminum mining, for example, creates toxic waste. Glass bottles also have a carbon footprint due to their energy-intensive production process, and their heavier weight means they also create more emissions during transport than plastic. Thereby, refilling reusable bottles is the only low impact option. It’s time for the world to move on from”disposable” and “recyclable” at “reusable“solutions and VMI is very well positioned to be a global leader in this business.
VMI’s head office is in Singapore. Thailand is the company’s base for manufacturing, our in-house software development and a large experienced research and development team.
VMI also has an operation in Australia focused on the Australasian market. VMI is also a research and development team that has developed the first water dispenser in the world that never needs to be refilled since it draws its water from the atmosphere.
Global Emerging Markets (“GEM”) is a $3.4 billion private Luxembourg-based alternative investment group with offices in Paris, New York and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in over 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and certain venture capital investments. For more information: http://www.gemny.com
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Mr Leicester Chatfield
Global Emerging Markets
Mr Jean-Luc Bonnefoy