Swire Properties in talks to sell HK office tower, trading resumes

Swire Properties

28/10/2020 05:16

HONG KONG, Oct 28 (Reuters) - Swire Properties Ltd  1972.HK 
is in discussions to sell an office tower in eastern Hong Kong
Island, but no agreement has been finalised as yet, the property
developer said in a filing to the Hong Kong bourse during lunch
break on Wednesday.
    The discussions may lead to a disposal of its interests in
the multi-storey office building in Taikoo Shing in Hong Kong,
the property arm of conglomerate Swire Pacific Ltd  0019.HK 
said, without giving further details.
    Swire Properties and Swire Pacific suspended trading of
their shares in Hong Kong on Wednesday morning, pending an
announcement.
    Shares of Swire Pacific eased 0.7% after trade resumed in
the afternoon, while Swire Properties slid 0.5%.    
    Separately, Swire Pacific's flagship carrier Cathay Pacific
Airways Ltd  0293.HK  is undergoing a restructuring, recently
announcing that it will slash 5,900 jobs and end its regional
carrier as it grapples with a plunge in demand due to the
coronavirus pandemic.  urn:newsml:reuters.com:*:nL4N2HB51B

 (Reporting by Clare Jim and Donny Kwok; Editing by Sherry
Jacob-Phillips)
 ((clare.jim@thomsonreuters.com; +852 2912 6653; Reuters
Messaging: clare.jim.thomsonreuters.com@reuters.net))