Hongkong Land Holdings, which has been persistently trading at less than a third of its NAV, plans to spend up to US$500 million to buy back shares from the market between now and Dec 31 2022. 

The purpose of the buy backs is to reduce the capital of the company, which owns large tracts of prime properties in both Hong Kong, Singapore, and across the region.

As the holding of treasury shares is not provided for in the company’s constitution, any shares which are repurchased by the company will be cancelled.

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