Mandarin Oriental to distribute One Causeway Bay sale proceeds in special dividend on Jan 22
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Mandarin Oriental will pay out a special dividend from the sale of parts of One Causeway Bay.
PHOTO: REUTERS
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- Mandarin Oriental will distribute a special dividend of 60 US cents per share on January 22, 2026, following the sale of parts of One Causeway Bay.
- Alibaba and Ant Group acquired the top 13 floors, rooftop signage, and 50 parking spaces of the Hong Kong skyscraper.
- Jardine Matheson's subsidiary aims to acquire the remaining 11.96% of Mandarin Oriental shares, with a hearing on January 15, 2025.
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SINGAPORE – Mandarin Oriental will pay out a special dividend from the sale of parts of One Causeway Bay to its shareholders on Jan 22, the company announced in a statement on Dec 31.
The dividend, at 60 US cents a share, follows the completion of the sale of the Grade-A office and retail Hong Kong skyscraper.
Mandarin Oriental announced on Oct 17 that Alibaba Group and Ant Group had agreed to acquire the top 13 floors of the building, along with its rooftop signage and 50 parking spaces.
The conditions for the transaction have been satisfied, Mandarin Oriental said on Dec 31; it added that it had received the proceeds from the sale.
The special dividend will be paid to Mandarin Oriental shareholders who are on the registers of members at the close of business on Jan 9. Mandarin Oriental shares will be quoted ex-dividend on Jan 8, and the share registers will be closed from Jan 12 to 15, inclusive.
The completion of the sale also satisfies a condition for the acquisition of Mandarin Oriental by a Jardine Matheson subsidiary.
On Oct 17, Jardine Matheson said that its investment holding company, Jardine Strategic, would acquire the remaining 11.96 per cent of Mandarin Oriental shares it does not already own, to take it private.
On Dec 31, Mandarin Oriental said the sanction hearing for the acquisition scheme will be held on Jan 15, and that the scheme is expected to take effect on Jan 19, subject to approval. THE BUSINESS TIMES
