The Grand Hotel (00045.HK) announced that the Kadoorie family plans to increase their hands today, the stock has risen 28% to $8.5, more than half a year high, now reported 7.83 yuan, nearly 18%, has always sparsely increased to 650,000 shares, exceeding two months high, involving 46.23 million shares.

The Hotel announced that, as advised by Kadoorie & Sons Ltd, on behalf of Michelle Kadoorie and Philip Kadoorie and certain major shareholders, set up certain trust structures and companies for the benefit of members of the Kadoorie Family at HK$12.8 per share (well above the closing price of $6.65 last Friday) on 13 January (trading session) (later) enter into a conditional share sale and purchase agreement whereby, Solis Capital acquired approximately 185 million shares in the company and an additional 20.13.21 million held by undisclosed persons.

If the transaction is completed, the shareholding of the Kadoorie family in the company (including interests in the family but excluding interests held by the family's related charities) will increase from 59.98% to 72.43% and the seller will no longer hold any shares after the completion of the conditional sale and purchase agreement. However, the completion of the Agreement for Sale and Purchase will depend on whether the purchaser has received SFC exemption from liability for mandatory general offer. If not yet waived before the end of the year, the agreement will be terminated unless both parties agree to extend it.