LuxOrigo Limited agreed to acquire 30.7% stake in A8 New Media Group Limited (SEHK:800) from Huang Qianqian, Liu Xiaofeng and others for HKD 310 million on May 27, 2024. The offeror has offered to acquire the shares for HKD 0.36. Post the completion of the acquisition, the Offeror and the Offeror Concert Parties will in aggregate own 100% of the total number of shares. The Board of Directors of A8 New Media Group Limited formed a special committee for the transaction. LuxOrigo will finance the cash required for acquisition from internal resources. The transaction is subject to the approval of the Scheme by the Scheme Shareholders, the approval of the Scheme (by way of poll) at the Court Meeting by the Independent Shareholders, the Grand Court?s sanction of the Scheme,
Gram Capital Limited acted as financial advisor for LuxOrigo Limited.