NEW ART HOLDINGS Co., Ltd. completed the acquisition of 30.8% stake in Wah Full Group Limited from Chow Wai Keung Canno, Kan Chung Ming, Chan Fei and Li Qinghai.
April 29, 2024
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NEW ART HOLDINGS Co., Ltd. (TSE:7638) agreed to acquire 30.8% stake in Wah Full Group Limited from Chow Wai Keung Canno, Kan Chung Ming, Chan Fei and Li Qinghai for HKD 56.5 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.
NEW ART HOLDINGS Co., Ltd. (TSE:7638) completed the acquisition of 30.8% stake in Wah Full Group Limited from Chow Wai Keung Canno, Kan Chung Ming, Chan Fei and Li Qinghai on April 30, 2024.
New Art Holdings Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of bridal jewelry (engagement rings and wedding rings), the operation of aesthetic salons, the planning and operation of auctions, and the sale of works of art. The Company operates in three business segments. The Jewelry Art Auction segment includes the manufacture and sale of bridal jewelry through the management of GINZA DIAMOND SHIRAISHI and EXELCO DIAMOND, the provision of bridal-related services, the purchase and wholesale of diamond loose (naked stone), the sale of art, the planning and operation of art auctions. The Health and Beauty segment operates the beauty salon La PARLER and manufactures and sells cosmetics and health foods. The Other businesses segment includes credit card business, manufacture and sale of golf equipment, development and manufacture of related sporting goods, and operation and resort business of hotels and wedding halls.
NEW ART HOLDINGS Co., Ltd. completed the acquisition of 30.8% stake in Wah Full Group Limited from Chow Wai Keung Canno, Kan Chung Ming, Chan Fei and Li Qinghai.