NEWS BRIEF: Swire family member sells down Swire A, Swire Properties holdings

Swire Pacific Ltd. (0019.HK) non-executive director Merlin Swire recently reduced his holdings in Swire Pacific, including his sale of all of his 301,000 shares in Swire A. He also reduced his shareholding in Swire B (0087.HK), dropping it to 0.05%, and sold his remaining 1.15 million shares in Swire Properties (1972.HK). Proceeds from the sales totaled about HK$40 million ($5.1 million).

Merlin Swire is a sixth-generation member of the Swire family that founded Swire, a conglomerate that is one of Hong Kong’s largest real estate developers. He joined the Hong Kong Swire Group in 1997, and is currently the CEO of British Swire Group.

By Lau Chi Hang