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2003-6-3 12:37:00 p.m. HKT, XFNA
STOCK ALERT - Sea Holdings higher on unit's sale of properties
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HONG KONG (AFX-ASIA) - Sea Holdings Ltd (251.HK) was higher in midmorning
trade after the company's indirectly-owned unit Australia Growth Properties
Ltd (AGP) agreed to sell two properties for a total cash consideration of 397.
0 mln aud, dealers said.
Sea Holdings was up 0.11 hkd or 11.34 pct at 1.08 on a volume of 492,000
shares.
The company said the AGP board expects to realize net proceeds of 385.7
mln aud from the disposal, but AGP has yet to decide on how to use the
proceeds.
Sea Holdings owns 55.2 pct of Trans Tasman Properties Ltd, which holds a
50.1 pct stake in AGP.
fanny.jor@afxasia.com
fj/skb
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