tiprankstipranks
Trending News
More News >

Hongkong Land Sells Property to HKEX and Launches Share Buyback

Story Highlights

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

Find detailed analytics on HKLD stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App