AMTD Group to inject US$500m worth of property assets into AMTD Digital
FINANCIAL institution AMTD Group will inject 100 per cent of the equity interest in AMTD Assets Group, with a fair market value of approximately US$500 million, into its subsidiary AMTD Idea Group, said a Tuesday (Aug 16) bourse filing.
AMTD Assets, AMTD Group’s global real estate arm, holds a global portfolio of premium whole building properties, which includes Dao by Dorsett AMTD Singapore as well as properties in Hong Kong and Canada.
The net purchase consideration amounted to US$268 million, after deducting the outstanding liabilities associated with the properties, said the announcement. The consideration will be settled by the issuance of about 30.9 million newly issued Class B ordinary shares of AMTD Idea Group, at US$8.68 per share.
AMTD Idea Group, which is dual-listed in New York and Singapore, will then inject AMTD Assets into AMTD Digital at the same valuation in return for 515,385 newly issued Class B ordinary shares of AMTD Digital at US$520 per share, the companies said.
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