AMCO United (0630) buys property from GET (8100)

Actually it is buying a BVI company, Bonus First Group, which owns Unit 503, 5/F Wing On House, for HK$62m in cash, conditional on a placing of new shares via Gransing Securities to pay for it. BFG agreed to buy the property for $53.9m on 8-Aug-2015, but it must have paid HK$4.58m in Double Stamp Duty at 8.5%. This completed on 30-Sep-2015, 6 days before the sale of BFG. There will be no stamp duty on the transfer of the BVI company.

Organisations

AMCO United Holding Limited
BONUS FIRST GROUP LIMITED 利元集團有限公司
GET Holdings Limited
GRANSING SECURITIES CO., LIMITED 國投證券有限公司

Topics

Double Stamp Duty

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