T.C.L. Industries Holdings (H.K.) Limited signed a share transfer agreement to acquire additional 2% stake in Tonly Electronics Holdings Limited (SEHK:1249) from Li Dongsheng for HKD 50.3 million on September 20, 2017. As per terms, 5.2 million shares will be acquired at HKD 9.6 per share. Post completion, T.C.L. Industries Holdings (H.K.) Limited will hold 49.84% stake and Li Dongsheng will own 0.13% stake in Tonly Electronics Holdings Limited while Tonly Electronics Holdings Limited will remain a holding subsidiary of TCL Corporation. The transaction is subject to approval from the Board of Directors of TCL Corporation, parent of T.C.L. Industries Holdings (H.K.) Limited and does not need approval from the shareholders.