Shenzhen Overseas Chinese Town Co., Ltd. (SZSE:000069) agreed to acquire an additional 9.87% stake in Shanghai OCT from Overseas Chinese Town Enterprises Co. for CNY 99.3 million on March 23, 2015. In related transactions, Shenzhen Overseas also agreed to acquire stakes in Wuhan OCT Industrial Development Ltd. 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.

Shenzhen Overseas Chinese Town Co., Ltd. (SZSE:000069) cancelled the acquisition of an additional 9.87% stake in Shanghai OCT from Overseas Chinese Town Enterprises Co. on March 23, 2016.