Swire Pacific's property unit rises on deal to sell $693 mln office premises

Swire Properties

20/11/2023 03:08

** Shares of Swire Properties Ltd  1972.HK  rise 3.5% to
15.80%, snapping two session of fall 
    ** Stock on course for the biggest one-day pct rise since
Nov. 15, if gains hold 
    ** Swire Pacific's  0019.HK  property unit has reached deal
to sell 42nd to 54th floors, excluding 49th floor, of One Island
East office tower to Securities and Futures Commission (SFC) for
a total HK$5.4 bln ($692.8 mln)
    ** SFC is an existing tenant of Swire 
    ** SFC says the purchase of permanent office premises will
be funded by its own reserves and external borrowing
    ** Stock of Swire Pacific gains 0.8% 
    ** Hang Seng Composite Index on properties and construction
stocks  .HSCIPC  climbs 0.2%, Hang Seng Index  .HSI  adds 0.9%
    ** Swire Properties stock down 21.1% YTD 


($1 = 7.7949 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))