Catalist-listed Incredible Holdings has signed a sale purchase agreement (SPA) to acquire a 42% stake watch trading firm in Golden Ultra for HK$84 mil ($14.6 million) on Oct 18.

According to Incredible, the acquisition is in line with its strategy to build and develop an e-commerce and e-marketplace luxury products platform.

Hong Kong-based Golden Ultra and its wholly-owned subsidiary CLKY Trading owns the online watch trading platform BestWatch, which sells luxury watch brands to customers in Hong Kong and other countries.

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