Ng Ho Lun entered into the sale and purchase agreement to acquire 73.529412% stake in Smart Globe Holdings Limited (SEHK:1481) from Master Sage Limited and Tse Yuen Shan Ivy for approximately HKD 200 million on April 26, 2023. As per the transaction, Ng Ho Lun will acquire 750 million shares at HKD 0.2614 per share. In Related transactions, Ng Ho Lun made an offer to acquire 26.47% stake in Smart Globe Holdings Limited.

The transaction is subject to approval by regulatory authorities and completion of a due diligence. Asian Capital Limited acted as financial advisor to Ng Ho Lun.