TOM Group said it planned to pay about HK$1.57 billion (US$201 million) for the shares it does not already own in TOM Online.
TOM Group said in a statement it planned to offer HK$1.52 a share in cash for all outstanding 1.03 billion shares, or 24.27%, of TOM Online.
The offer price represents a 33.3% premium to the closing price of HK$1.14 on March 2, prior to a trading suspension.
TOM Group said it will fund the purchase by borrowing from financial institutions. Goldman Sachs is the financial adviser to TOM Group.