Ng made an offer to acquire 22.18% stake in Target Insurance (Holdings) Limited (SEHK:6161) for HKD on September 30, 2021. Under the terms Ng will acquire 138.8 million shares for HLD 0.57 per share. If the Proposed Conversion materializes and upon completion of the Proposed Conversion, the Offeror will be interested in 486.86 million Shares, representing approximately 49.99% of the then total issued share capital of Target Insurance (Holdings) Limited The Offeror has no intention to privatise the Group and intends to maintain the listing of the Shares on the Stock Exchange. Rainbow Capital (HK) Limited acted as financial adviser to Target Insurance (Holdings) Limited.