GF Holdings (Hong Kong) Corporation Limited entered into an agreement to acquire a 20.20% stake in Value Partners Group Limited (SEHK:806) from Cheah Capital Management Limited and Yeh V-Nee for HKD 1.1 billion on June 1, 2023. As reported, GF Holdings will purchase up to 369,000,000 shares in in Value Partners Group Limited in aggregate at the price of HKD 3.00 per share. Cheah Capital Management Limited will sell 224.6 million shares as part of transaction, representing 12.3% stake while Yeh V-Nee will sell 144.4 million shares, representing 7.9% stake in Value Partners Group. Following the sale, Cheah Capital Management Limited will hold 13.13% stake and Yeh V-Nee will hold 8.45% stake in Value Partners Group.

Completion of the transaction is subject to the satisfaction (or waiver, where applicable) of certain conditions precedents (including obtaining necessary regulatory approvals and consents from, and completion of registrations with, relevant governmental and regulatory authorities in respect of licensed entities within the Group) on or prior to November 30, 2023 (or such later date as may be agreed between the parties to the agreement). The transaction will not have a material impact on the financial position and operating results of GF Securities Co., Ltd. (SZSE:000776).

GF Holdings (Hong Kong) Corporation Limited completed the acquisition of 20.036023% stake in Value Partners Group Limited (SEHK:806) from Cheah Capital Management Limited and Yeh V-Nee for HKD 1.1 billion on January 4, 2024.