Hutchison Harbour Ring sees $269 mln gain in deal

HONG KONG, May 17 (Reuters) - Hutchison Harbour Ring Ltd (0715.HK) said it expected to realise HK$2.1 billion ($269 million) gain from the sale of an office tower in Shanghai to an affiliate of Asia Pacific Land Ltd (APLA.KL).

The property investment and electronic products maker said late on Friday it would sell a 40-storey office tower including car park spaces in Shanghai for 4.44 billion yuan ($635.2 million).

The company said it would use the proceed to expand its business of design, production and distribution of mobile accessories and other high-end electronic products.

Shares of Hutchison Harbour Ring have risen more than 20 percent so far this year to close at HK$0.70 on Friday. (US$1=HK$7.8=6.990 yuan) (Reporting by Donny Kwok; Editing by Anshuman Daga)