超富裕 HONG KONG PAYDAY, BABY!

billionare-Asia

HONG KONG—Shares in blue chip firms Cheung Kong Holdings Ltd and Hutchison Whampoa surged on Monday after Asia’s richest person, Li Ka-shing ,announced the reorganization of his empire into two new companies.

By the close of trading in Hong Kong Monday, Mr. Li and his family’s stakes in Hutchison and Cheung Kong were valued at US$19.9 billion combined, up 14.5% from US$17.4 billion Friday. Cheung Kong soared 14.7% to close at 143.2 Hong Kong dollars (US$18.47) Monday, outperforming the benchmark Hang Seng Index’s 0.5% gain, while Hutchison Whampoa jumped 12.5% to close at HK$98.35.

Mr. Li, 86 years old, said Friday the real-estate assets of Cheung Kong and Hutchison will be carved out into a new company listed in Hong Kong, to be called CK Property. The remaining assets of both companies, which include ports in 26 countries, mobile-telecom operations and a stake in Canadian oil company Husky Energy Inc., will be listed separately as CKH Holdings. Both listings will be done by introduction, meaning that no funds will be raised.

The two new companies will be incorporated in the Cayman Islands rather than Hong Kong, according to the filing….(read more)

WSJ


2 Comments on “超富裕 HONG KONG PAYDAY, BABY!”

  1. […] 超富裕 Hong Kong Payday, Baby! […]

  2. […] 超富裕 Hong Kong Payday, Baby! (punditfromanotherplanet.com) […]


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