Hongkong Land to Sell Part of One Exchange Square for HK$6 Billion; Shares Surge 10%

Trading View
2025.04.25 05:09
portai
I'm PortAI, I can summarize articles.

Hongkong Land has agreed to sell the top nine floors of One Exchange Square to Hong Kong Exchanges and Clearing for HK$6.3 billion. The sale includes 147,025 square feet of space, with 45% of proceeds expected in 2025 and the remaining 55% by 2026. Following the announcement, shares of Hongkong Land surged nearly 10%.

Hongkong Land has agreed to sell the top nine floors of One Exchange Square to the Hong Kong Exchanges and Clearing for HK$6.3 billion, according to a filing with the Singapore Exchange on Thursday.

The total area to be sold is 147,025 square feet and also includes the current retail space on levels 1 and 2 of the building.

Around 45% of the proceeds are expected to be received in 2025 while the balance of 55% will be paid by 2026.

Shares of the property developer surged nearly 10% in recent trading.

Source: Trading View The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.