Chow Tai Fook (Holding) Limited made an offer to acquire remaining 53.1% stake in Integrated Waste Solutions Group Holdings Limited (SEHK:923) for approximately HKD 400 million on December 31, 2015. Chow Tai Fook (Holding) will pay HKD 0.158 per share for acquiring 2.6 billion shares. The offer will run through December 31, 2015 till February 24, 2016. The consideration will be financed from internal resources. A special committee of independent directors has been formed for the acquisition. The deal is subject to a minimum tender of receiving more than 50% of acceptances. The Board of Integrated Waste recommended the shareholders to accept the offer. As of February 15, 2016, valid acceptances have been received in respect of 195 million shares representing approximately 4.06% of the total issued shares and voting rights. The offer has become unconditional.

Veda Capital Limited acted as financial advisor and Tricor Investor Services Limited acted as transfer agent for Integrated Waste Solutions Group. Halcyon Securities Limited and Halcyon Capital Limited acted as financial advisors for Chow Tai Fook. KPMG Hong Kong as accountant to Integrated Waste.

Chow Tai Fook (Holding) Limited completed the acquisition of 9.94% stake in Integrated Waste Solutions Group Holdings Limited (SEHK:923) for HKD 75.7 million on February 29, 2016. Valid acceptances have been received in respect of 479.36 million offer shares.