GOLDWAY EDU plans to acquire Huimin Limited for HKD 20 million
GOLDWAY EDU plans to acquire all issued shares of Huimin Limited for HKD 20 million. In the transaction, HKD 15.66 million will be paid through the issuance of shares, and HKD 4.34 million will be paid through the issuance of promissory notes. Huimin Limited is a property holding company, with its main asset being a property of approximately 2,961 square feet, which includes two non-residential studios currently bound by lease agreements. The acquisition aims to provide stable rental income and may be used for the company's tutoring business
According to the Zhitong Finance APP, GOLDWAY EDU (08160) announced that on September 30, 2025, the company intends to acquire all issued shares of Huimin Limited from Li Mantang and Gao Lianfang for a consideration of HKD 20 million, with HKD 15.66 million to be paid by the company through the issuance of consideration shares to the sellers (or their nominees) upon completion, and HKD 4.34 million to be paid after completion through the issuance of promissory notes to the sellers (or their nominees).
The target company is a property holding company, whose only significant asset is the property. The property includes two non-residential studios, which are currently subject to lease agreements. The total floor area of the property is approximately 2,961 square feet. The company intends to acquire the property for investment purposes, as it provides stable rental income and may potentially be used for its own tutoring business in the future
