The Zhitong Finance App learned that Swire A (00019) has now risen nearly 4%. As of press release, it has risen 3.65% to HK$58.2 million, with a turnover of HK$389.8865 million.
According to the news, Swire A, Swire B and Swire Properties jointly announced that Swire Properties became the only eligible bidder to acquire 40% of Dongyao and Yaolong's interests through the opening of a listing, at a total cost of about 9.7 billion yuan. Dongshao and Yaolong respectively own plots in Yangjing District and Qiantan, Pudong New Area, Shanghai, and are expected to be developed for retail, office and residential purposes.
Citigroup published a rating report, which lowered Swire A's profit forecast from 2023 to 25 by 3% to 10%, reflecting that Swire's sale of the US Coca Cola business to its parent company received approval from minority shareholders and paid a special interest of HK$8.12 per share. It lowered its target price from $73.02 to HK$72.25 to maintain its “buy” rating.