Arab Today, arab today shares in li kashings firms soar after overhaul
Last Updated : GMT 14:02:48
Arab Today, arab today
Arab Today, arab today

Shares in Li Ka-shing's firms soar after overhaul

Arab Today, arab today

Arab Today, arab today Shares in Li Ka-shing's firms soar after overhaul

Hong Kong tycoon Li Ka-shing
Hong Kong - AFP

Shares in two of Hong Kong's biggest firms, both owned by the city's richest person Li Ka-shing, surged on Monday after announcing a multi-billion-dollar revamp of his vast business empire.
Cheung Kong Holdings said in a statement to the Hong Kong stock exchange Friday that it would separate its property-related firms from Li's other global assets in a move to streamline his empire.
Cheung Kong Holdings jumped 14.74 percent to close at HK$143.2 ($18.47) and Hutchison Whampoa -- which is 50 percent owned by Cheung Kong -- soared 12.53 percent to $98.35.
They were the biggest increases seen by the two firms since 1998 and 1997 respectively, according to Bloomberg News.
Under the restructure Cheung Kong will change its name to CK Hutchison Holdings, while all property related business will be controlled under a new firm called CK Property, which will be listed in the future.
Hutchison Whampoa, which has been trading on the city's bourse since 1978 and controls his telecoms, utilities, ports and retail assets, will be delisted.
The 86-year-old Li said Friday that the overhaul was to secure stability in future.
"It's a good thing for the company's foundation," he said, adding that he had no timetable for his retirement.
The move would have a positive impact on stocks as it would unlock "hidden value embedded under the existing vertical structure" Nomura analysts Benjamin Lo and Sylvia Chan said in a note Monday.
Li had been Asia's richest man since 2012, but was surpassed by China's Internet entrepreneur Jack Ma in December.
Li, who is worth $28.2 billion, according to Bloomberg's Billionaires Index, started out in business as a plastic flower-maker.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today shares in li kashings firms soar after overhaul Arab Today, arab today shares in li kashings firms soar after overhaul

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today shares in li kashings firms soar after overhaul Arab Today, arab today shares in li kashings firms soar after overhaul

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday