China Huaneng Foundation Construction Investment Co., Ltd. entered into an agreement to acquire 29% stake in IDT International Limited (SEHK:167) from Hongtu High Technology Int'l Inc. for HKD 87 million on September 5, 2018. Pursuant to the terms of the transaction, Hongtu High Technology Int'l Inc. will acquire approximately 754 million shares HKD 0.115 per share. The first installment of HKD 59.8 million of the consideration will be made within five business days after the signing of the agreement and the second installment of HKD 27.2 million of the consideration will be made within 10 business days upon obtaining the stamped bought and sold note of the shares. Post completion, Hongtu High Technology Int'l Inc will hold 21.42% stake in IDT International Limited. The transaction was approved by the 7th extraordinary meeting of the Board of Directors of Jiangsu Hongtu High Technology Co., Ltd. Recently, Hongtu High Technology Int'l Inc. received full payment from China Huaneng Foundation Construction Investment Co., Ltd. China Huaneng Foundation Construction Investment Co., Ltd. completed the acquisition of 29% stake in IDT International Limited (SEHK:167) from Hongtu High Technology Int'l Inc. on September 29, 2018.