Hong Kong bourse operator to shift headquarters in US$812 million deal

[HONG KONG] Hong Kong’s bourse operator will shift its headquarters, it said on Thursday (Apr 24) and will take over the top nine floors of a building in a complex owned by developer Hongkong Land for HK$6.3 billion (S$1.06 billion).

Hong Kong Exchanges and Clearing’s (HKEX) new office is located in the same retail centre in the city’s core business district that has housed its headquarters for over four decades.

In addition to the deal, Hongkong Land has also agreed to pay for the enhancement project costs of the space for up to a maximum of HK$400 million.

HKEX said that the deal would result in long-term cost savings.

Hongkong Land, controlled by conglomerate Jardine Matheson, in a separate statement, announced a share buyback programme of up to US$200 million, to be financed via proceeds from this transaction as well as other capital recycling activities. REUTERS