On December 27, Ge Longhui Education (06169.HK) announced that on December 27, 2024, the seller (China Yuhua Education Investment Co., Ltd., a wholly-owned subsidiary of the company) signed a sale agreement with the buyer (Mr. Xin Yu, a Chinese citizen). Based on this, the seller has agreed to sell and the buyer has agreed to acquire all of the target company's shares, with a total purchase price of HK$0.24 billion. Proceeds from the sale are intended to be used to repay the Group's already issued convertible bonds due 2024.
The target company (i.e. Thai Education Holdings Co., Ltd.) is a private limited company incorporated in Thailand. The target sales shares are all common shares of the target company that have been issued abroad. The subsidiary is the license holder of a university which has two branches in Thailand and offers international and Thai undergraduate and graduate degree programs, including business management, media, hotel management and information technology. The courses, course areas and degrees are fully recognized by the Ministry of Education and the Ministry of University Affairs of Thailand. The university has been included in the Ministry of University Affairs's list of accredited private universities in Thailand.
