A group of investors signed an agreement to acquire 75% stake in KFM Kingdom Holdings Limited (SEHK:3816) from Pan Tihui, Yu Hsuan-jung and Cheung Yuen Tung for approximately HKD 130 million on December 1, 2023. Under the terms, the investors will pay HKD 0.30 per share as consideration. The investors comprise of executive Directors Sun Kwok Wah Peter, Wong Chi Kwok and Yau Lam Chuen, Yung Ching Tak, Lam Kin Shun, Chan Lin On, Yeung Man Chiu, Suen Fai Chuen Alan and Sunny Nova Limited.

The transaction was financed by loan facility of HKD 25 million granted by Head & Shoulders Securities and loan facility of HKD 115 million granted by KFM Kingdom's Shareholders Lenders. The long stop date is March 31, 2024.