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SEA Holdings Ltd. ( (HK:0251) ) has shared an announcement.
SEA Holdings has agreed to dispose of a luxury residential property at No. 1 Shouson Hill Road East, Hong Kong, via the sale of a wholly owned holding structure for HK$180 million in cash, subject to completion adjustments. The deal, structured through the sale of the share and shareholder loan in the property-owning vehicle, transfers full beneficial ownership of the asset to an independent third-party purchaser.
The consideration, set after arm’s length negotiations and with reference to comparable market values and prevailing Hong Kong conditions, will be paid in stages with deposits held in stakeholder until the existing mortgage can be fully discharged. As the transaction size falls between 5% and 25% under Hong Kong listing rules, it is classified as a discloseable transaction, requiring market notification but not shareholder approval, signalling a portfolio rebalancing move rather than a transformational change for SEA Holdings.
More about SEA Holdings Ltd.
SEA Holdings Ltd., incorporated in Bermuda and listed in Hong Kong, operates in the property and real estate sector. The group invests in, develops and holds properties, with a portfolio that includes residential and other real estate assets in Hong Kong and potentially other markets, positioning it as a regional property investment and development company.
Average Trading Volume: 40,158
Technical Sentiment Signal: Hold
Current Market Cap: HK$837M
See more data about 0251 stock on TipRanks’ Stock Analysis page.