Hongkong Land Holdings ( (GB:HKLD) ) just unveiled an update.
Hongkong Land Holdings Limited announced the sale of 147,025 square feet of One Exchange Square to Hong Kong Exchanges and Clearing Limited (HKEX) for HK$6.3 billion. This transaction, which includes planned enhancements to the property, will strengthen Central’s position as a financial hub and is expected to be earnings accretive by reducing net debt and financing costs. Additionally, Hongkong Land will initiate a share buyback program using part of the proceeds, aiming to return capital to shareholders and reduce share capital.
More about Hongkong Land Holdings
Hongkong Land Holdings Limited is a prominent property investment, management, and development group established in 1889. It specializes in developing ultra-premium mixed-use real estate in Asian gateway cities, including Hong Kong, Singapore, and Shanghai. The company focuses on Grade A office spaces, luxury retail, residential, and hospitality products, with a strong emphasis on sustainability and innovation. Hongkong Land is part of the Jardine Matheson Group and has listings on the London Stock Exchange, Bermuda, and Singapore.
YTD Price Performance: 2.35%
Average Trading Volume: 52,300
Technical Sentiment Signal: Sell
Current Market Cap: $9.36B
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