Right Select International Limited agreed to make an offer to acquire an additional 55.82% stake in Huarong Investment Stock Corporation Limited (SEHK:2277) for approximately HKD 900 million on January 12, 2017. Under the terms, the offeror offered to acquire 689.92 million shares at HKD 1.31 per share. Yeung Chun Wai Anthony irrevocably undertaken to Right Select International Limited to not to transfer or sell or participate in the offer. The offeror intends to finance the total consideration for the offer by internal resources. Upon completion, the offeror intends to maintain the listing status of Huarong Investment Stock Corporation and does not intends to avail itself of any power of compulsory acquisition. Huarong Investment Stock Corporation Limited established an independent Board committee, comprising all the independent non-executive Directors to advise the independent shareholders in respect of the transaction. On March 22, 2017, the independent Board committee recommended the shareholders to accept the offer. The offer will close on April 12, 2017. Chang Sean Pey of Altus Capital served as the independent financial advisor to the independent Board committee and the independent shareholders of Huarong Investment Stock Corporation. CCB International Capital Limited acted as financial advisor to Right Select International Limited.