HKEX to establish new headquarters at One Exchange Square

HKEX bought the asset for $6.3b from Hongkong Land.

Hongkong Land has sold levels 42 to 50 of One Exchange Square in Central Hong Kong to Hong Kong Exchanges and Clearing Limited (HKEX).

HKEX acquired 147,025 sq ft of the property for $6.3b to establish its permanent headquarters.

Hongkong Land will deploy proceeds from this transaction to boost its balance sheet and to commence a $1.5b (US$200m) share buyback.

“This is a pivotal transaction for Hong Kong, Central, and Hongkong Land. Within six months of announcing our new strategic direction, we have already demonstrated our ability to recycle capital and our unwavering commitment to create significant shareholder value,”  Michael Smith, chief executive of Hongkong Land said.