Lo Ki Yan Karen signed an agreement to acquire 44.06% stake in Yugang International Limited (SEHK:613) from Chongqing Industrial Ltd., Timmex Investment Limited and Cheung Chung Kiu for approximately HKD 720 million on January 16, 2019. A total of 4.billion shares will be acquired as part of the deal for HKD 0.175 per share in cash on closing. HKD 559.03 million will be paid to Chongqing Industrial Ltd, HKD 149.09 million to Timmex Investment and HKD 9.33 million to Cheung Chung Kiu for 3.19 billion shares, 851 million shares and 53.32 million shares representing 34.33%, 9.16% and 0.57% stake respectively. Lo Ki Yan Karen held 0.57% stake in Yugang International Limited before the agreement. In a related transaction, Lo Ki Yan Karen made an offer to acquire remaining shares of Yugang International Limited on January 23, 2019. Transaction will be financed from internal resources. Lo Ki Yan Karen completed the acquisition of 44.06% stake in Yugang International Limited (SEHK:613) from Chongqing Industrial Ltd., Timmex Investment Limited and Cheung Chung Kiu on January 17, 2019.