Hu Xingrong, Chairman of the Board and an Executive Director of Man Sang International made an offer to acquire remaining 58.27% stake in Man Sang International Limited (SEHK:938) for approximately HKD 560 million on September 10, 2018. A total of 1.1 billion shares are subject to the mandatory offer triggered after Hu Xingrong acquiring certain stakes in Man Sang International from Cheng Chung Hing and affiliate. Hu Xingrong will pay HKD 0.5 per share in cash and intends to finance the consideration payable under the offer through the facility provided by Kingston Securities Limited for HKD 460 million. Kingston Corporate Finance is satisfied that sufficient financial resources are available to Hu Xingrong to satisfy the total consideration payable under the offer. Hu Xingrong has no intention to terminate the employment of any employees or to relocate or cease any businesses of Man Sang International. The offer is conditional upon valid acceptances received on the closing date in respect of shares which, together with shares already owned by the offeror will result in the offeror and parties acting in concert with it holding more than 50% of the voting rights of Man Sang International. The Independent Board Committee comprising all the independent non-executive Directors, namely Lai Hok Lim, Lei Seng Fat and Wong Tak Chuen, has been established to advise the independent shareholders of Man Sang International. Settlement of the offer will take place within seven business days after the offer becomes unconditional. Hu Xingrong intends to maintain the listing of the shares of Man Sang International on the Stock Exchange after the close of the offer. As of October 22, 2018, Hu Xingrong received the acceptance of 9.74% which fulfilled the condition of more than 50% stake owned.The last date and time of accepting offer is November 1, 2018. Kingston Securities Limited will make the offer on behalf of Hu Xingrong. Kingston Corporate Finance Limited acted as financial advisor to Hu Xingrong. Nuada Limited acted as financial advisor to Man Sang and INCU Corporate Finance Limited acted as financial advisor to the independent Board Committee of Man Sang. Hu Xingrong, Chairman of the Board and an Executive Director of Man Sang International cancelled the acquisition of remaining 58.27% stake in Man Sang International Limited (SEHK:938) on September 10, 2019.