Rally Praise Limited entered into an agreement to acquire additional 19.6% stake in PYI Corporation Limited (SEHK:498) from Hollyfield Group Ltd for approximately HKD 180 million on April 7, 2020. The fulfillment of the transaction is subject to certain conditions. Transaction is subject t customary closing conditions, including completion of 4.08% placing shares between PYI Corporation and independent third parties, PYI Corporation obtain all necessary approvals at the expense from its shareholdes and the Stock Exchange under the Listing Rules. Proceeds from the disposal will be used for potential acquisition, money lending business and r developing its commodities trading business and general working capital. On June 24, 2020, Hollyfield Group completed the disposal of 4.08% stake in PYI Corporation Limited by way of placing.