U-Home Group Holdings Ltd. is acquiring Golden Image Investment Ltd. in a share plus cash deal valued at HK$281.9 million.

U-Home Group will pay HK$56.4 million in cash and issue the remaining HK$225.5 million in 644,298,761 shares priced at 39 Hong Kong cents apiece.

The shares represented 21.83% of the company at the time of the announcement. The transaction is subject to customary approvals and is expected to close in the first quarter of 2017.