Charoen Pokphand Group Co., Ltd. entered into an agreement to acquire 14.78% stake in Honma Golf Limited (SEHK:6858) from Liu Jianguo for approximately HKD 580 million on March 3, 2020. As per agreement, Charoen Pokphand Group Co., Ltd. will acquire 90 million shares of Honma Golf Limited at HKD 6.43 per share. Upon completion, Charoen Pokphand Group Co., Ltd. will hold 29.77% stake and Liu Jianguo will hold 38.35% stake in Honma Golf Limited. The transaction is subject to satisfaction of number of conditions and transaction is expected to be completed before April, 2020.