Swire Properties will buy back shares worth $6b from the open market

It will commence its buyback programme on 6 December.

Swire Properties will commence a programme to buy back $6m worth of its ordinary shares from the open market.

In a bourse filing, the company said it plans to fund the buyback programme through its available capital and cash reserves.

"The board believes that the current financial resources of the company would enable it to implement the programme whilst continuing to maintain a solid financial position," the company said.

The company will start its buyback programme on 6 December and conclude it at its annual general meeting in May 2025.

"Shareholders and potential investors should note that any buy-back of shares under the programme will be subject to prevailing market conditions and the broker’s sole discretion within the predetermined parameters of the programme. They are advised to exercise caution when dealing in the Shares," Swire Properties said.