Asia Standard International Group Limited (SEHK:129) proposed to acquire 33.29% stake in Asia Standard Hotel Group Limited (SEHK:292) for HKD 73.9 million on June 19, 2024. As per the transaction, Asia Standard International Group Limited will pay HKD 0.035 per share and will issue 0.15 share for every share in Asia Standard Hotel Group Limited. The cash consideration of the transaction will be financed from Asia Standard International Group Limited internal resources.

The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders and subject to court approval. Anglo Chinese Corporate Finance, Limited acted as financial advisor to Asia Standard International Group Limited.