HK's Link hits over 8-week high on buying three retail properties in Sydney CBD

Vicinity Centres

08/11/2021 03:43

** Units of Link Real Estate Investment Trust  0823.HK  jump
2.2% to HK$70.20, their highest since Sept. 10
    ** The unit on course for the biggest daily percentage gain
since Sept. 30; the fourth biggest percentage gainer on the Hang
Seng sub-index tracking property firms  .HSNP  
    ** Hong Kong-listed Link said it has agreed to buy 50%
interests in three retail properties in Sydney central business
district (CBD) for A$538.2 mln ($398.16 mln) as it aims to
diversify and improve its portfolio mix  urn:newsml:reuters.com:*:nL1N2RZ009
    ** Says the acquisition will be funded by cash and debt, and
Link's ratio of debt to total assets will increase to 21.4% from
20.1% based on its financial position at end-March 2021
    ** The Hang Seng sub-index tracking property firms  .HSNP 
and Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  both climb 0.7% 
    ** The Hang Seng China Enterprises Index  .HSCE  slips 0.5%,
and the benchmark index  .HSI  eases 0.6%


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