Company: TGE
Filing Date: 2025-03-21
Form Type: DRSLTR
Source: 0001013762-25-001138
Chunk: 2

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRSLTR
Chunk 2
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Draft Registration Statement on Form F-4 submitted February 19, 2025

Cover Page

| 1. | We note that aWME will make a cash payment equal to $1.25 per                              
 share to non-redeeming shareholders of Black Spade II. Please revise to quantify the total 
 dollar amount that could be rewarded to such shareholders.                                 |

In response to the Staff’s
comment, the Company has revised the disclosure on the Cover Page and pages 7 and 23 of the Revised Draft Registration Statement.

| 2. | We note your disclosure that aWME will qualify as a controlled                                   
 company. Please revise to combine this paragraph with the disclosure regarding the AMTD entities 
 that is included later on the cover page. Specifically, where you first state that aWME will     
 be a controlled company, please identify the controlling shareholder or shareholders and         
 provide their percentage of ownership after the completion of the business combination.          |

In response to the Staff’s
comment, the Company has revised the disclosure on the cover page of the Revised Draft Registration Statement.

Securities and Exchange Commission

March 21, 2025

Page 3

QUESTIONS AND ANSWERS ABOUT THE BUSINESS COMBINATION AND THE EXTRAORDINARY GENERAL MEETING

Q: What equity stake will Black Spade II Shareholders and aWME Shareholders have in aWME after the Business Combination?, page 16

| 3. | Please provide disclosure, in a footnote or otherwise, accompanying                         
 your redemption scenarios that shows AMTD Group Inc.'s controlling interest in the combined 
 company.                                                                                    |

In response to the Staff’s
comment, the Company has revised the disclosure on page 36 of the Revised Draft Registration Statement.

Potential sources of dilution, page 36

| 4. | Please revise your prospectus to                                                             
 include a dilution table that complies with all of the requirements outlined in Item 1604(c) 
 of Regulation S-K.                                                                           |

In response to the Staff’s
comment, the Company has revised the disclosure on page 37 of the Revised Draft Registration Statement.

Summary of the Proxy Statement/Prospectus

Sources and Uses of Funds for the Business Combination, page 38

| 5. | Please include the cash payment that aWME intends to make to                             
 non-redeeming shareholders of Black Spade II in your table. If the precise amount is not 
 currently known, please provide good faith estimates.                                    |

In response to