POLYFAIR HLDGS (08532) intends to acquire all issued shares of Kings Construction & Decoration Company Limited by issuing convertible bonds.

POLYFAIR HLDGS (08532) announced that on April 24, 2025 (after trading hours), the buyer, Faithful Galaxy Investment Limited (an indirect wholly-owned subsidiary), and the seller entered into a sale and purchase agreement. Under this agreement, the buyer conditionally agreed to purchase and the seller conditionally agreed to sell 10,000 shares of Kings Construction & Decoration Company Limited (the target company's ordinary shares), representing all of the target company's issued shares, for a total consideration of HK$7.5 million. Upon completion, the buyer will own all the shares of the target company, making it an indirect wholly-owned subsidiary of the company. The consideration (HK$7.5 million) will be paid by the buyer by issuing convertible bonds to the seller with a total principal amount of HK$7.5 million. The announcement stated that the target company is a company with a long history and extensive experience in the construction industry in Hong Kong, currently recognized as a registered minor works contractor. It is expected that through the acquisition, leveraging the target company's experience, resources, and network, the Group will further strengthen its position and market influence in the Hong Kong construction market. The acquisition is in line with the Group's strategy and will help expand its existing construction business.