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Sun Hung Kai Properties to lower board lot size of shares

Sun Hung Kai Properties Ltd. will alter the board lot size of its ordinary shares to 500 shares from 1,000 shares, effective June 29 at 9 a.m. Hong Kong time.

The Hong Kong developer expects the lowered board lot size to reduce the value of each board lot to make it "more attractive" to its investors, boosting share liquidity and widening its shareholder base. No odd lot arrangements will be carried out to match the transaction of odd lots.

Sun Hung Kai will allow a free-exchange period of existing share certificates in board lots of 1,000 shares each for new share certificates in 500-share denominations starting June 14 and closing June 28.