AMTD Completes $38M Acquisition of Malaysian Hotel
AMTD is trading near its 52-week low of $0.874 (9.8% above the low).
Summary
AMTD IDEA Group has successfully completed the acquisition of the Upper View Regalia Hotel in Malaysia for US$38 million. This adds another hotel asset to the company's portfolio, continuing a pattern of real estate acquisitions. The company previously acquired the Hilton Garden Inn in New York for $69 million in March and other London properties. This $38 million deal represents a modest expansion of the company's real estate holdings.
At the time of this announcement, AMTD was trading at $0.96 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $0.87 to $1.65. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.