Summary: Hongkong Land will sell 147,025 square feet of One Exchange Square to Hong Kong’s stock exchange operator for HK$6.3 billion. The proceeds will finance a US$200 million share buyback program, aiming to reduce share capital and return capital to shareholders. The sale is expected to be earnings accretive and will be used to reduce debt and lower net financing costs.

Link: https://www.straitstimes.com/business/companies-markets/hongkong-land-to-sell-space-in-one-exchange-square-for-1-1b-launch-share-buyback-programme