CK Hutchison Holdings senior adviser Li Ka-shing has increased ownership stakes in his two flagship businesses, further underscoring his confidence in the business prospects of the port-to-telecom conglomerate and the property company.
A company in which Li Ka-shing and CK Hutchison Chairman Victor Li Tzar-kuoi each owns a 50 percent beneficial interest acquired a total 101,500 shares of CK Hutchison at an average price of HK$52.0514 (US$6.71) per share on Friday, according to a statement by the company on Tuesday. Victor Li is the elder son of Li Ka-shing.
As a result, under the Securities and Futures Ordinance, Li Ka-shing’s deemed interests in CK Hutchison increased from 30.13 percent to 30.14 percent, while Victor Li’s deemed interests increased from 30.204 percent to 30.206 percent.
Another company in which Li Ka-shing and Victor Li each owns a 50 percent beneficial interest acquired 1.959 million shares in CK Asset Holdings at the average price of HK$42.3881, HK$42.7875, HK$42.9860 and HK$43.4500 per share on April 1, Thursday, Friday and Monday respectively.
As a result, under the Securities and Futures Ordinance, Li Ka-shing’s deemed interests in CK Asset increased from 34.43 percent to 34.48 percent, while Victor Li’s deemed interests increased from 34.5 percent to 34.55 percent.
The Li family had already acquired additional shares of CK Asset at the end of March by taking advantage of recent price dips of the property flagship company.
CK Hutchison’s share price soared over 3.2 percent to close at HK$57.6 per share on Tuesday, while CK Asset also rose more than 2.2 percent to close at HK$45.95.
