Peter Lam Offloads LAI SUN DEV Bonds Worth USD 6.5M: Report
Peter Lam's Bond Sale: Peter Lam, Chairman of LAI SUN DEV, sold USD6.5 million of the company's USD bonds, reducing his holdings by nearly half, according to a disclosure from the Hong Kong Stock Exchange.
Sale Price and Remaining Holdings: The bonds were sold at approximately 75% of their face value, leaving Lam with USD7 million in LAI SUN DEV's USD bonds.
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<HK Home>DEEP WATER PAVILIA II in Wong Chuk Hang Sells 5 Units in Just One Day, Generating Approximately $1.1 Billion
Property Sales Overview: DEEP WATER PAVILIA II in Wong Chuk Hang, co-developed by New World Development and others, has sold 723 units since launch, generating nearly HKD12.5 billion in revenue.
Market Activity: In a single day, 5 units were sold for nearly HKD1.1 billion, with significant short selling activity reported, particularly for MTR Corporation.
Peter Lam Offloads LAI SUN DEV Bonds Worth USD 6.5M: Report
Peter Lam's Bond Sale: Peter Lam, Chairman of LAI SUN DEV, sold USD6.5 million of the company's USD bonds, reducing his holdings by nearly half, according to a disclosure from the Hong Kong Stock Exchange.
Sale Price and Remaining Holdings: The bonds were sold at approximately 75% of their face value, leaving Lam with USD7 million in LAI SUN DEV's USD bonds.
Citi Predicts Central and West Kowloon Offices Will Excel Compared to Other Areas Next Year, Favoring HLD and SHKP
JD-SW Acquisition: JD-SW has agreed to acquire a 50% stake in the CCB Tower in Central, Hong Kong for HK$3.5 billion, while a local institution purchased office space in Festival Walk for HK$1.96 billion.
Office Market Outlook: Citi predicts continued demand for office space in Hong Kong, driven by Chinese companies and initiatives like the “GoGlobal Task Force” aimed at helping mainland firms expand internationally.
Central and West Kowloon Performance: Citi expects office spaces in Central and West Kowloon to outperform other areas by 2026, with potential rent stabilization for major property owners.
Competition in Causeway Bay: With record-high new supply, competition in Causeway Bay is expected to intensify, impacting projects in Hong Kong Island East while benefiting developments like Hysan Development's Lee Gardens.
JD-SW Purchases Office Space in CCB Tower, Remains Positive About Hong Kong's Growth
Sale of Office Floors: LAI SUN INT'L and LAI SUN DEV announced the sale of office floors in CCB Tower for approximately HKD3.473 billion, pending approvals, with Jasmine Investment Development IV as the buyer, linked to JD-SW.
JD's Commitment to Hong Kong: JD expressed optimism about its future in Hong Kong, planning to invest in supply chain integration to boost its retail, logistics, and technology R&D operations in the region.
LAI SUN DEV Rises 4.8% Following Sale of CCB Tower Stake for Approximately HKD3.5 Billion
LAI SUN DEV Stock Performance: LAI SUN DEV (00488.HK) opened 4.76% higher at HKD0.66, but closed down by 1.587%.
Sale of CCB Tower Stake: LAI SUN DEV and LAI SUN INT'L (00191.HK) announced the sale of a 50% stake in CCB Tower for approximately HKD3.473 billion to Jasmine Investment Development IV.
Buyer Information: The buyer is reported to be a subsidiary of JD-SW (09618.HK).
Short Selling Data: There was significant short selling activity with a total of $150.04 million and a ratio of 14.095%.
Trading of LAI SUN INT'L/LAI SUN DEV Shares Suspended Due to Pending Insider Information Disclosure
Trading Halt: Shares of LAI SUN INT'L (00191.HK) and LAI SUN DEV (00488.HK) have been suspended on the Hong Kong Stock Exchange as of 9:13 am today.
Reason for Halt: The trading suspension is pending the release of a joint announcement from both companies, which will contain inside information relevant to each.
<HK Home>DEEP WATER PAVILIA II in Wong Chuk Hang Sells 5 Units in Just One Day, Generating Approximately $1.1 Billion
Property Sales Overview: DEEP WATER PAVILIA II in Wong Chuk Hang, co-developed by New World Development and others, has sold 723 units since launch, generating nearly HKD12.5 billion in revenue.
Market Activity: In a single day, 5 units were sold for nearly HKD1.1 billion, with significant short selling activity reported, particularly for MTR Corporation.
Peter Lam Offloads LAI SUN DEV Bonds Worth USD 6.5M: Report
Peter Lam's Bond Sale: Peter Lam, Chairman of LAI SUN DEV, sold USD6.5 million of the company's USD bonds, reducing his holdings by nearly half, according to a disclosure from the Hong Kong Stock Exchange.
Sale Price and Remaining Holdings: The bonds were sold at approximately 75% of their face value, leaving Lam with USD7 million in LAI SUN DEV's USD bonds.
Citi Predicts Central and West Kowloon Offices Will Excel Compared to Other Areas Next Year, Favoring HLD and SHKP
JD-SW Acquisition: JD-SW has agreed to acquire a 50% stake in the CCB Tower in Central, Hong Kong for HK$3.5 billion, while a local institution purchased office space in Festival Walk for HK$1.96 billion.
Office Market Outlook: Citi predicts continued demand for office space in Hong Kong, driven by Chinese companies and initiatives like the “GoGlobal Task Force” aimed at helping mainland firms expand internationally.
Central and West Kowloon Performance: Citi expects office spaces in Central and West Kowloon to outperform other areas by 2026, with potential rent stabilization for major property owners.
Competition in Causeway Bay: With record-high new supply, competition in Causeway Bay is expected to intensify, impacting projects in Hong Kong Island East while benefiting developments like Hysan Development's Lee Gardens.
JD-SW Purchases Office Space in CCB Tower, Remains Positive About Hong Kong's Growth
Sale of Office Floors: LAI SUN INT'L and LAI SUN DEV announced the sale of office floors in CCB Tower for approximately HKD3.473 billion, pending approvals, with Jasmine Investment Development IV as the buyer, linked to JD-SW.
JD's Commitment to Hong Kong: JD expressed optimism about its future in Hong Kong, planning to invest in supply chain integration to boost its retail, logistics, and technology R&D operations in the region.
LAI SUN DEV Rises 4.8% Following Sale of CCB Tower Stake for Approximately HKD3.5 Billion
LAI SUN DEV Stock Performance: LAI SUN DEV (00488.HK) opened 4.76% higher at HKD0.66, but closed down by 1.587%.
Sale of CCB Tower Stake: LAI SUN DEV and LAI SUN INT'L (00191.HK) announced the sale of a 50% stake in CCB Tower for approximately HKD3.473 billion to Jasmine Investment Development IV.
Buyer Information: The buyer is reported to be a subsidiary of JD-SW (09618.HK).
Short Selling Data: There was significant short selling activity with a total of $150.04 million and a ratio of 14.095%.
Trading of LAI SUN INT'L/LAI SUN DEV Shares Suspended Due to Pending Insider Information Disclosure
Trading Halt: Shares of LAI SUN INT'L (00191.HK) and LAI SUN DEV (00488.HK) have been suspended on the Hong Kong Stock Exchange as of 9:13 am today.
Reason for Halt: The trading suspension is pending the release of a joint announcement from both companies, which will contain inside information relevant to each.
