NEW ART HOLDINGS Co., Ltd. (TSE:7638) agreed to acquire 70% stake in Wah Full Group Limited from Chow Wai Keung Canno, Kan Chung Ming, Chan Fei and Li Qinghai for HKD 200 million on January 10, 2024. For period ended March 2023, Wah Full Group reported net assets of HKD 100.8 million, total assets of HKD 197.2 million and sales of HKD 464.5 million. Signing of stock transfer agreement is scheduled on March 25, 2024.

The transaction is expected to complete on March 25, 2024. As on April 19, 2024, stock transfer agreement was signed for a revised consideration of HKD 128.54 million for the acquisition of 0.014 million shares of Wah Full Group. The transaction is expected to complete on July 31, 2024.