Date
23 November 2017
With the listing of CK Hutchison, Li Ka-shing has completed the first step of a major restructuring of his business empire. Photo: Bloomberg
With the listing of CK Hutchison, Li Ka-shing has completed the first step of a major restructuring of his business empire. Photo: Bloomberg

New Li Ka-shing flagship up 0.94% in debut

Shares of CK Hutchison Holdings Ltd. (00001.HK) debuted with a 0.94 percent gain on its first day, in line with the benchmark Hang Seng Index, which rose 0.91 percent.

The flagship conglomerate of tycoon Li Ka-shing, which replaced Cheung Kong (Holdings) Ltd., ended the day at HK$151.50 on a turnover of HK$1.04 billion (US$130 million).

Hutchison Whampoa Ltd. (00013.HK), the shareholders of which have yet to vote whether they will accept a privatisation offer from CKH, closed at HK$103.90, up 0.58 percent.

If the privatisation goes through, CKH will spin off the property assets of the former Cheung Kong and Hutchison Whampoa into a merged entity called CK Property Holdings Ltd.

CK Property will have net assets of HK$226.6 billion, with 2.36 million square meters of land, mainly in mainland China (85 percent), Hong Kong (12 percent), Britain (2.5 percent) and Singapore (0.4 percent). 

– Contact us at [email protected]

FL

EJI Weekly Newsletter

Please click here to unsubscribe