Hongkong Land shares up 3.6% after report of Marina One bid

[SINGAPORE] Shares of Hongkong Land rose 3.6 per cent on Thursday (May 7), after a Bloomberg report that it and CapitaLand were among possible bidders for the Marina One high-rise complex.

The counter reached a high of US$8.26 as at 10.14 am, adding US$0.29, with more than one million shares changing hands.

Marina One owner M+S, a joint venture between Temasek and Malaysian sovereign wealth fund Khazanah Nasional, has priced the asset at about S$5.7 billion, said Bloomberg.

The Business Times reported in January that Khazanah and Temasek were considering a sale at S$5 billion to S$6 billion.

Marina One includes 1.88 million square feet of office space as well as 140,000 square feet of retail space. There are also apartments.

Deliberations around Marina One are still at an early stage and may not result in a transaction.