Based on the valuation report by Colliers, the indicative preliminary valuations of the stake come up to a total of $61.7 million. Of the amount, the stake in Sun Oriental is valued at $28.56 million, while the stake in Sun Xin is at $33.15 million.
The Place Holdings has entered into sale and purchase agreements (SPAs) with Diamond Era Investment Limited and World Globe International Holdings Limited to acquire a 51% stake in Sun Oriental and Sun Xin investment for a consideration of $47.0 million.
The SPAs come after a non-binding memorandum of understanding (MOU) was entered into in March.
