PCPD Weighs US$400 Million Offer for Jakarta Flagship Property Unit

Pacific Century Premium Developments Limited ( (HK:0432) ) has issued an update.

Pacific Century Premium Developments Limited has received a US$400 million offer from an independent third party to acquire Rafflesia Investment Limited, its indirect wholly owned subsidiary that owns Pacific Century Place, a premium commercial building in Jakarta. The company is engaged in advanced negotiations over the proposed sale, which would represent a major potential divestment of a flagship overseas asset.

Any deal arising from the offer will require approval by the company’s shareholders under Hong Kong listing rules, and there is no certainty that the transaction will proceed. The board has urged shareholders and potential investors to exercise caution when trading the company’s shares and said it will issue further announcements as required under listing and securities regulations.

The most recent analyst rating on (HK:0432) stock is a Hold with a HK$0.19 price target. To see the full list of analyst forecasts on Pacific Century Premium Developments Limited stock, see the HK:0432 Stock Forecast page.

More about Pacific Century Premium Developments Limited

Pacific Century Premium Developments Limited is a Hong Kong-listed property developer incorporated in Bermuda that focuses on premium real estate projects in Asia. Through its subsidiaries, it develops and owns high-end commercial properties, including Pacific Century Place in Jakarta, Indonesia, positioning the group in the upper tier of regional commercial property markets.

Average Trading Volume: 329,128

Technical Sentiment Signal: Hold

Current Market Cap: HK$419.9M

For detailed information about 0432 stock, go to TipRanks’ Stock Analysis page.