Hang Lung Group Bolsters Stake in Property Arm

Hang Lung Group (HK:0010) has released an update.

Hang Lung Group Limited has disclosed a significant transaction involving the acquisition of 62 million shares of Hang Lung Properties Limited (HLP), enhancing their ownership to approximately 61.51%. The purchase was made by their wholly-owned subsidiary, Curicao Company Limited, between August 2023 and June 2024, for a total cash consideration of around HK$609.8 million, utilizing internal and/or banking resources. This strategic move solidifies Hang Lung Group’s position in the property market, where it has over 60 years of experience in development, investment, and management.

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