John Swire & Sons exits direct holding in Swire Properties

The $630 million placement comes more than a month before the expiry of an existing lockup, but investors welcome the removal of the overhang and pile into the deal.

<div style="text-align: left;"> Swire's upmarket Pacific Place development </div>

Anette Jönsson

October 04, 2012

Less than two months after its previous sell-down, John Swire & Sons last night sold the remainder of its directly owned shares in Hong Kong-listed Swire Properties, raising HK$4.88 billion ($630 million).

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