General Atlantic Singapore Fund Pte. Ltd managed by General Atlantic Service Company, L.P. made a non-binding proposal to acquire remaining 83.1% stake in Fang Holdings Limited (NYSE:SFUN) for approximately $120 million on November 30, 2020. As per the transaction, General Atlantic Singapore Fund Pte.

Ltd managed by General Atlantic Service Company, L.P will acquire all of the outstanding shares and American Depositary Shares (ADSs”, each representing ten Class A ordinary shares) of Fang Holdings Limited for $1.46 per Share (or $14.68 per ADS) in cash, subject to certain conditions. Prior to the transaction, General Atlantic Singapore Fund beneficially owns 1,110,644 ADSs of Fang Holdings Limited. The transaction will be financed primarily with equity capital, and possibly debt capital.