Australia Pacific Holdings (00880.HK) subsidiary intends to acquire all equity of Keystone Development Limited.

Financial news from Zhitong, Aobo Holdings (00880.HK) announced that on November 20, 2025, its subsidiaries SJM-Investment Limited and Ao Yu Integrated Resort Limited intend to acquire all issued shares of Kai Tak Development Limited indirectly owned by Ms. Leung On Kei's fully owned Goldarch Holdings Limited and Solar King Investments Limited. The contracting parties have agreed that: (i) the purchase price for all issued shares of the target company under the acquisition agreement shall be their face value, which is MOP 180,000; and (ii) the buyer shall arrange for the repayment of Industrial and Commercial Bank loans at completion, with a maximum amount of HKD 1,749,825,243, which is equivalent to HKD 17.5 billion (i.e. the valuation of the Kai Tak Hotel property) minus the share purchase price. The total amount payable by the buyer at completion will be HKD 17.5 billion.