King Re Subsidiary Heavenly Grace Limited Acquires 23 Collectible Items Valued at $68.9 Million
Heavenly Grace Limited deploys $23.4 million into a collectibles portfolio appraised at about $68.9 million, at roughly one‑third of valuation.
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(Low)
Rhea-AI Sentiment
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Tags
acquisition
Rhea-AI Summary
King Re/b) announced that subsidiary Heavenly Grace Limited agreed to acquire 23 collectible items for $23,399,165
The seller is Herbertini Limited. The collection has been independently valued at an aggregate $68,908,500, so the agreed price represents approximately 33.96% of the appraised value. Management describes the purchase price as attractive and positions the deal as part of a broader strategy to pursue opportunities in the collectibles market and to enhance the value of its investment portfolio.
The company also recently completed its reincorporation from Delaware to Nevada and now operates under the name King Reidentity while pursuing this sizable collectibles acquisition through its wholly owned subsidiary
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Positive
- Purchase price $23,399,165 vs. $68,908,500 appraisal (about 33.96% of value)
- 23 collectible items acquired through wholly owned subsidiary Heavenly Grace Limited
- Reincorporation completed from Delaware to Nevada with new name King Resources Global
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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HONG KONG, Sept. 4, 2026 /PRNewswire/ — King Re (“KRFG” or the “Company”) is pleased to announce that its wholly owned subsidiary, Heavenly Grace Limited (“HGL”), has entered into a purchase agreement with Herbertini Limited to acquire twenty-three (23) collectible items
The collection has been independently valued at an aggregate amount of $68,908,500
. Under the terms of the purchase agreement, HGL will acquire the collection for $23,399,165
, representing approximately 33.96%
of the appraised value.
“We are pleased to have successfully negotiated the acquisition of these collectible items at what we believe is an attractive purchase price,” said Polin Wong, Chief Executive Officer of Heavenly Grace Limited. “This transaction reflects our continued commitment to identifying opportunities within the collectibles market and enhancing the value of our investment portfolio.”
The Company also recently completed its reincorporation from Delaware
to Nevada
and now operates under the name King Re
King Re is a diversified holding company focused on acquiring, developing, and growing high-potential businesses. Through its subsidiaries, including Heavenly Grace Limited, the Company seeks to generate sustainable revenue streams and create long-term shareholder value through business consulting services and investments in high-value collectible assets
This press release contains forward-looking statements within the meaning of applicable federal securities laws. All statements other than statements of historical fact are forward-looking statements. These statements are often identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” and similar expressions.
Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, risks associated with operating in Hong Kong, potential regulatory developments, competitive pressures, capital requirements, and other factors described in the Company’s filings with the U.S. Securities and Exchange Commission.
Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law.
Parkson Yip
Email: parkson.yip@xbe.com
View original content:https://www.prnewswire.com/news-releases/king-requires-23-collectible-items-valued-at-68-9-million-302870275.html
What acquisition did King Re announce involving Heavenly Grace Limited?
King Rey Grace Limited, entered into a purchase agreement with Herbertini Limited to acquire 23 collectible items. The transaction is framed as part of a strategy to expand within the collectibles market and grow the investment portfolio
How much are the collectible items valued at in the KRFG transaction?
The 23 collectible items acquired by Heavenly Grace Limited have been independently valued at an aggregate of $68,908,500. This appraisal forms the basis for comparing the agreed purchase price and highlights the discount at which the subsidiary is buying the collection.
What is Heavenly Grace Limited paying for the collectibles and what percentage of appraised value is this?
Under the purchase agreement, Heavenly Grace Limited will acquire the collection for $23,399,165, which represents approximately 33.96% of the independently appraised value of $68,908,500. The company characterizes this pricing as an attractive entry point for the assets.
Who is selling the collectible items to Heavenly Grace Limited in the KRFG deal?
The 23 collectible items are being acquired from Herbertini Limited under a purchase agreement with Heavenly Grace Limited, the wholly owned subsidiary of King Reils about Herbertini Limited beyond its role as the seller
What recent corporate change did King Re complete alongside this acquisition?
King Ree to Nevada and now operates under the name King Reollectibles acquisition as part of the company’s current developments
