AMTD Digital's Subsidiary TGE Executed SPA to Acquire Upper View Regalia Hotel in Kuala Lumpur, Malaysia

Rhea-AI Summary

AMTD Digital (NYSE: HKD) subsidiary The Generation Essentials Group (TGE) entered a sale and purchase agreement to acquire an 80% stake in Upper View Regalia Hotel in Kuala Lumpur for HK$300 million (approx. US$38.6 million) on Dec 15, 2025. Closing is subject to customary closing conditions under the SPA.

The hotel has over 129 rooms, amenities including a gym, library, rooftop infinity pool and restaurant, and is located near Sunway Putra Mall and Putra World Trade Centre. The deal is TGE's fourth major hotel project this year and brings TGE's portfolio to six properties offering over 800 rooms worldwide (including SPAs pending completion).

Positive

• Acquisition of an 80% stake in Upper View Regalia Hotel
• Transaction value of HK$300 million (≈US$38.6M)
• TGE's fourth major hotel project in 2025; portfolio now six properties

Negative

• Closing subject to customary closing conditions; transaction not completed

Key Figures

Acquisition consideration HK$300 million Aggregate consideration for 80% stake in Upper View Regalia Hotel

USD equivalent US$38.6 million Stated equivalent of HK$300 million transaction value

Stake acquired 80% Equity interest in Upper View Regalia Hotel to be purchased under SPA

Hotel room count 129+ rooms Upper View Regalia Hotel capacity in Kuala Lumpur

Hotel portfolio size 6 properties TGE hotel portfolio including executed SPAs pending completion

Total hotel rooms 800+ rooms Room count across TGE’s hotel portfolio worldwide

Revenue growth 1,085.9% Increase in revenue highlighted in half-year performance 6-K

Outstanding warrants 16,220,000 warrants TGE warrants exercisable into Class A shares (TGE.WS)

Market Reality Check

$1.45 Last Close

Volume Volume 500,896 vs 20-day average 580,031 (relative volume 0.86x) shows no outsized positioning into this news. normal

Technical Shares at $1.45 are trading below the 200-day MA of $1.87 and far under the $5.47 52-week high.

Peers on Argus

HKD was down 3.33% while key software peers were mixed: APPS -3.23%, ALTS -2.63%, DSP -0.26%, RBBN -1.65%, and DJCO +2.14%. Moves do not indicate a unified sector trend.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 11	Capital structure update	Neutral	-3.2%	Detailed disclosure of TGE share classes, voting rights, and outstanding warrants.
Dec 05	Secondary listing move	Positive	-0.7%	Plan for TGE Class A shares to trade on the London Stock Exchange.
Nov 10	Hotel acquisition deal	Positive	-9.5%	Agreement to acquire the Ritz Carlton Perth as part of hospitality expansion.
Nov 04	New hotel brand plan	Positive	-15.4%	Board approval to build The Art Newspaper Hotel brand and open 4–5 hotels.
Nov 04	AI-healthcare investment	Positive	-15.4%	Injection of We Doctor preferred shares to deepen AI and healthcare presence.

Pattern Detected

Recent strategic and expansion news for HKD/TGE has often been followed by negative next-day price reactions, suggesting a pattern of selling into positive headlines.

Recent Company History

Over the last six weeks, AMTD Digital and its subsidiary TGE have issued several expansion-focused updates, including AI-healthcare investment on Nov 4, 2025, a new hotel brand strategy the same day, and a Ritz-Carlton Perth acquisition agreement on Nov 10, 2025. TGE also pursued a London Stock Exchange listing and clarified voting rights and warrant counts in December. Despite generally growth-oriented narratives, the stock saw negative reactions after most of these announcements, framing today’s Kuala Lumpur hotel acquisition within an ongoing expansion story that the market has previously sold into.

Market Pulse Summary

This announcement adds an 80% stake in the Upper View Regalia Hotel for HK$300 million, expanding TGE’s portfolio to six properties and over 800 rooms globally. It follows earlier deals in New York, London, Australia and Perth, reinforcing a clear hospitality build-out. Investors may focus on how these acquisitions translate into earnings, the impact of prior 1,085.9% revenue growth, and execution on closing conditions for transactions still under SPA.

Key Terms

sale and purchase agreement financial

"TGE has entered into a sale and purchase agreement ("SPA") to purchase an 80% stake"

A sale and purchase agreement is a binding written contract that sets out the exact terms under which one party sells and another buys assets or a business, much like the detailed receipt and instructions you get when buying a house. It matters to investors because it defines the price, what is included, payment timing, and any promises or protections — all of which determine future cash flows, risk, and the value of the companies involved.

SPA financial

"entered into a sale and purchase agreement ("SPA") to purchase an 80% stake"

A sale and purchase agreement (SPA) is a legally binding contract that lays out the exact terms for buying or selling a company, business unit, or shares, including price, what is being transferred, and conditions that must be met before the deal closes. For investors it matters because the SPA determines who gets what, when money changes hands, what warranties or indemnities protect buyers and sellers, and therefore directly affects the value, timing and risk of a transaction — much like a detailed recipe and checklist for a home sale.

AI-generated analysis. Not financial advice.

PARIS and NEW YORK and LONDON, Dec. 15, 2025 /PRNewswire/ -- AMTD Group Inc. ("AMTD Group"), AMTD IDEA Group (NYSE: AMTD; SGX: HKB), AMTD Digital Inc. (NYSE: HKD) and The Generation Essentials Group ("TGE", NYSE & LSE: TGE), a subsidiary of AMTD Digital Inc., announce jointly that TGE has entered into a sale and purchase agreement ("SPA") to purchase an 80% stake in the Upper View Regalia Hotel in Kuala Lumpur, Malaysia. 

The aggregate consideration of the transaction is HK$300 million (equivalent to approximately US$38.6 million), following specific terms and conditions of the SPA. Closing of the acquisition is subject to customary closing conditions.

Upper View Regalia Hotel is strategically situated in the heart of Kuala Lumpurs vibrant commercial and business district, providing convenient pedestrian access to both Sunway Putra Mall and the Putra World Trade Centre. The hotel comprises over 129 rooms and a range of amenities, including a fully equipped gym, a library, and a stunning rooftop Infinity Pool, and an award-winning restaurant.

The addition of Upper View Regalia Hotel further strengthens TGE's global hospitality offerings. This acquisition in Kuala Lumpur also marks TGE's fourth major hotel project of the year, reaffirming the company's commitment to expanding its global footprint with premium properties in key markets around the world.

As of the date of this announcement, the hotel portfolio of TGE (including those with executed SPAs pending completions) consists of six properties located in major cities worldwide, offering over 800 rooms. This portfolio includes the iclub AMTD Sheung Wan Hotel in Hong Kong, Dao by Dorsett AMTD Singapore, along with recent projects in New York, London, Australia, and Malaysia.

About AMTD Group

AMTD Group is a conglomerate with a core business portfolio spanning across media and entertainment, education and training, and premium assets and hospitality sectors.

About AMTD IDEA Group

AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients' diverse and inter-connected business needs and digital requirements across all phases of their life cycles. AMTD IDEA Group is uniquely positioned as an active super connector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as "Twitter") at @AMTDGroup.

About AMTD Digital Inc.

AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates key business lines including digital media, content and marketing services, investments as well as hospitality and VIP services. For AMTD Digital's announcements, please visit https://ir.amtdigital.net/investor-news.

About The Generation Essentials Group

The Generation Essentials Group (NYSE and LSE: TGE), jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), is headquartered in France and focuses on global strategies and developments in multi-media, entertainment, and cultural affairs worldwide as well as hospitality and VIP services. TGE comprises L'Officiel, The Art Newspaper, movie and entertainment projects. Collectively, TGE is a diversified portfolio of media and entertainment businesses, and a global portfolio of premium properties. Also, TGE is special purpose acquisition company (SPAC) sponsor manager in global media, entertainment, and gaming areas.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group, AMTD Digital and/or The Generation Essentials Group, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group, AMTD Digital and The Generation Essentials Group with the SEC. All information provided in this press release is as of the date of this press release, and none of AMTD IDEA Group, AMTD Digital and The Generation Essentials Group undertakes any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

For AMTD IDEA Group:
IR Office
AMTD IDEA Group
EMAIL: ir@amtdinc.com 

For AMTD Digital Inc.:
IR Office
AMTD Digital Inc.
EMAIL: ir@amtdigital.net 

For The Generation Essentials Group:
IR Office
The Generation Essentials Group
EMAIL: tge@amtd.world

View original content:https://www.prnewswire.com/news-releases/amtd-digitals-subsidiary-tge-executed-spa-to-acquire-upper-view-regalia-hotel-in-kuala-lumpur-malaysia-302642245.html

SOURCE AMTD IDEA Group; AMTD Digital; The Generation Essentials Group

FAQ

What did AMTD Digital (HKD) announce on December 15, 2025 regarding the Kuala Lumpur hotel?

TGE agreed to buy an 80% stake in Upper View Regalia Hotel for HK$300 million, subject to closing conditions.

How many rooms and amenities does Upper View Regalia Hotel have?

The hotel comprises over 129 rooms and amenities including a gym, library, rooftop infinity pool and restaurant.

What is the ownership stake and price AMTD Digital's subsidiary is paying for the hotel?

TGE will acquire an 80% stake for an aggregate consideration of HK$300 million (≈US$38.6M).

Is the HKD hotel acquisition for Kuala Lumpur finalized?

No; closing is subject to customary closing conditions under the SPA.

How does the Kuala Lumpur deal affect TGE's global portfolio under AMTD Digital (HKD)?

The acquisition marks TGE's fourth major hotel project of 2025, taking its portfolio to six properties with over 800 rooms worldwide (including pending SPAs).