Swire Pacific (HK:0019) has released an update.
Swire Properties Limited has greenlit a HK$1.5 billion share buy-back program, aiming to repurchase company shares from the open market. The initiative, which will tap into the company’s capital and cash reserves, is subject to the approval of a waiver for certain listing rules by The Stock Exchange of Hong Kong Limited. Shareholders are urged to be cautious in their dealings with Swire Pacific shares, as the company holds a significant stake in Swire Properties.
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