KW Cheung, LW Cheung and YW Cheung made an offer to acquire 31.9% stake in Wah Ha Realty Company Limited (SEHK:278) for approximately HKD 430 million on March 13, 2023. The Offeror intends to fully finance and satisfy the cash consideration payable under the Offer with its internal resources. The Offer is unconditional in all respects when it is made and will not be conditional upon acceptance being received in respect of a minimum number of the Offer Shares. As of April 25, 2023, Offer will be close on May 17, 2023. As of May 17, 2023, the offeror has decided to extend the closing date from May 17, 2023, to May 25, 2023. As of April 28, 2023, Wah Ha Realty reported that profit attributable to equity holders for the YR 2023 is expected to decline by about 50% as compared to HKD 38.98 million for the year ended March 31, 2022. As of May 2, 2023, Shareholders and potential investors of the Company should note that the Profit Warning does not meet the requirement of Rule 10 of the Takeovers Code and has not been reported on in accordance with the Takeovers Code.

Eddid Capital Limited and Maxa Capital Limited acted as financial advisor to KW Cheung, LW Cheung and YW Cheung. Grande Capital Limited acted as financial advisor to Wah Ha Realty.