On November 1, Gronghu reported that the board of directors of ParknShop (00244.HK) announced that the company's controlling shareholder (as defined by the Listing Rules) Realord Group Holdings Limited ("Realord") (whose shares are listed on the Stock Exchange of Hong Kong, stock code: 1196) notified that on November 1, 2024, Realord entered into a purchase agreement with Merrill Lynch Holdings Limited ("Merrill Lynch"), pursuant to which Realord conditionally agreed to sell, and Merrill Lynch conditionally agreed to purchase a total of 985,471,362 shares of the company, representing 75% of the total number of shares issued by the company as of the date of this announcement, for a total consideration of HK$387,782,980.
Following the completion of the share sale, assuming no other changes to the shares issued from the date of this announcement to the completion of the share sale, Merrill Lynch Holdings will become the holder of 985,471,362 shares, while Realord will no longer hold any shares.