An undisclosed buyer entered into memorandum of understanding to acquire 67.1% stake in Speedy Global Holdings Limited (SEHK:540) from Chan Hung Kwong, Patrick, Sky Halo Holdings Limited, Tang Wai Shan and Au Wai Shing on January 2, 2017. As per terms, 402.6 million shares will be acquired. Sky Halo Holdings Limited will sell 54.54%, Chan Hung Kwong, Patrick will sell 5.51%, Tang Wai Shan will sell 2.57% and Au Wai Shing will sell 4.47% stake. The transaction has an exclusivity period of two months. On January 25, 2017, a legally binding supplemental memorandum of understanding is signed. The exclusivity period is extended to April 30, 2017. As on February 23, 2017, negotiations are still going on. The possible transaction is subject to further negotiation and execution of a formal sale and purchase agreement.