Chang Tin Duk Victor and Ho Chi Hong agreed to acquire 75% stake in S&T Holdings Limited (SEHK:3928) from Hg Tec Holdings Limited for HKD 100 million on June 19, 2024. A cash consideration of HKD 100 million will be paid by the buyer. As part of consideration, HKD 100 million is paid towards common equity of S&T Holdings Limited.

The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by target shareholders, consummation of due diligence investigation and third party approval needed. The Board of Directors of S&T Holdings Limited formed a special committee for the transaction. The deal has been approved by shareholders of S&T Holdings Limited.

GET NICE SECURITIES LIMITED acted as financial advisor to Chang Tin Duk Victor and Ho Chi Hong.