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2025-04-25 12:01:06 HKEX (00388.HK) announced that it purchased multi floors at One Exchange Square in Central as its permanent headquarter for $6.3 billion, a transaction price that HKEX considers fair given the enhancement and other services provided by the seller, Hongkong Land. The news came as a surprise as the broker hadn't heard anything about it before, according to BofA Securities' research report. The news are expected to have a short-term impact on HKEX's share price, as most investors may not consider buying high-end properties a good option in the current economic environment. However, BofA Securities believed that the property acquisition will have limited financial impact on HKEX in the long run. With its external investment portfolio reaching $7.2 billion by the end of 2024, the transaction is not expected to incur additional financing costs. With the long property depreciation period, the impact is believed to be diluted and limited. Therefore, it is expected that the investment in owner-occupied properties is unlikely to lead to concerns about the cost and market value of the properties. The broker kept rating at Buy, with a target price of $406. ~ AAStocks Financial News Web Site: www.aastocks.com | |