Shenzhen Overseas Chinese Town Co., Ltd. (SZSE:000069) agreed to acquire an additional 15.15% stake in Wuhan OCT Industrial Development Ltd. from Overseas Chinese Town Enterprises Co. for approximately CNY 600 million on March 23, 2015. In related transactions, Shenzhen Overseas also agreed to acquire stakes in Shanghai OCT and a 38.78% stake in Shenzhen OCT International Hotel Management.

The transaction will be financed from the proceeds of non-publically issuing 1.163 billion shares to raise CNY 8 billion.