Top Form International Limited (SEHK:333) agreed to acquire remaining 40% stake in Grand Gain Industrial Limited from Wan Ho Yau for HKD 19 million on June 28, 2024. Top Form International Limited will pay the first tranche of cash, being HKD 9,500,000 on or before July 1, 2025; and the second tranche of cash, being HKD 9,500,000 on or before July 1, 2026 for acquiring 40,000 shares. The transaction will be financed by internal resources of Top Form International.

Upon completion, Top Form International Limited will own 100% stake in Grand Gain Industrial Limited. As of December 31, 2023, Grand Gain Industrial Limited reported total common equity of HKD 64.859 million. The expected completion of the transaction is June 30, 2024.