Beat Holdings Limited (TSE:9399) agreed to acquire 30% stake in Fame Rich Enterprises Limited from Lian Yih Hann for HKD 0.076 million on November 2, 2022. Beat Holdings Limited will acquire 6,000 preferred shares from Lian Yih Hann, representing 30% of the total outstanding shares of Fame Rich. Fame Rich Enterprises Limited reported total revenues of HKD 3.92 million, Total assets worth HKD 303.64 million, EBIT of HKD 3.50 million, Net Income of HKD 45.89 million and Total Common equity of HKD 252.04 million in March 21, 2022.

The transaction is subject to shareholder approval. The transaction is expected to complete on December 23, 2022.