Swire Pacific weighs accelerated exchange trade tied to HK$ 4.7 billion exchangeable bonds due 2027
PUBT·- Swire Pacific appointed financial institutions to explore repurchasing HKD 4.7 billion in zero-coupon exchangeable bonds due 2027. - The proposed transaction pairs a bond buyback with a concurrent placement of Cathay Pacific shares to accelerate equity exchanges. - The issuer holds the right to redeem remaining bonds at par if 90% or more of the original bonds are successfully repurchased or exchanged and cancelled.HSI Up 334 pts; HSTI Up 37 pts; MEITUAN Up over 5%; HSBC HOLDINGS, SWIRE PACIFIC A, SITC Hit New Highs
AASTOCKS News·- At midday close, HSI rose by 334 points or 1.3% to 25,227, while HSTI and HSCEI increased by 0.8% and 1.3%, respectively. - Heavyweights such as MEITUAN and TENCENT saw significant gains, with MEITUAN up 5% and TENCENT up 2%. - Notable moves included CHALCO, which rose by 7%, and NONGFU SPRING, which fell by 4.8%.