HK Stock Market Move | Ancient A (00019) is now up more than 4%, with the company selling its property in Miami, United States. UBS predicts that this will have a slightly positive impact on the stock price.

Taikoo A (00019) is now up more than 4%, as of the time of writing, it is up 4.09% at HK$70, with a turnover of HK$788.338 million. In terms of news, Taikoo A and SWIRE PROPERTIES (01972) jointly announced the sale of the retail portion, common facilities portion, and parking portion of the Brickell City Centre project in Miami, Florida, USA, to Simon Property for a maximum price of US$549 million (approximately HK$4.28 billion), including contingent consideration of up to US$36.1 million (approximately HK$282 million). UBS issued a report stating that the sale is expected to have a slight positive impact on the stock price of Taikoo A, estimating that the sale may improve Taikoo A's estimated adjusted debt to EBITDA ratio for 2025 from 4.63 times to 4.59 times, still above the S&P requirement of 4.5 times. The company is also not expected to conduct share buybacks after the announcement. Following the completion of the transaction, Taikoo A is expected to record a pre-tax profit of HK$725 million, accounting for 6% of the bank's estimated underlying profit for 2025.