Summary by Futu AI
On 14 February 2024, Xuhui Holdings Group announced that its indirect non-wholly owned subsidiary (Asahi Fai Sellers) has entered into a purchase and sale agreement with an independent third party buyer, conditionally agreeing to sell 60% of its interest in 16 connected parcels (the properties) located in Sydney for a transaction price of AU$66,300,000 (approximately HK$338,793,000). The transaction is subject to disclosure in accordance with Chapter 14 of the Listing Rules, subject to exemption from Circular and Shareholder Approval, above 5% but less than 25% applicable percentage. Completion of the transaction is subject to a number of preconditions, including the agreement of the Australian Government authorities and the relevant agreement of the Development Management Company. If the conditions are not met, the purchase and sale agreement...Show More