Cash-Flush Swire Properties Could Buy Back More Shares -- Market Talk

Dow Jones
06/30

0640 GMT - Hong Kong property developer Swire Properties could announce a new share buyback scheme after it sold its stake in a Miami mall for up to HK$4.3 billion, says Citi analysts in a note. Shares should react positively, as its capital recycling aids capex and shareholder returns. The disposal could enrich cash flows sufficiently to support another buyback, after Swire completed its previous scheme in May. Any news of another buyback is likely to be a stock catalyst. The bank maintains its buy call and HK$19.35 target price. Shares are 0.4% lower at HK$19.62. (megan.cheah@wsj.com)

 

(END) Dow Jones Newswires

June 30, 2025 02:40 ET (06:40 GMT)

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