Shenzhen Overseas Chinese Town Co., Ltd. (SZSE:000069) agreed to acquire an additional 38.78% stake in Shenzhen Oct International Hotel Management Co., Ltd. from Overseas Chinese Town Enterprises Co. for approximately CNY 290 million on March 23, 2015. In related transactions, Shenzhen Overseas also agreed to acquire stakes in Wuhan OCT Industrial Development Ltd. and Wuhan OCT Industrial Development Ltd. The transaction will be financed from the proceeds of non-publicly issuing 1.163 billion shares to raise CNY 8 billion.