New | Cheung Kong debt securities trading halted from March 11

Hong Kong tycoon Li Ka-shing’s Cheung Kong (Holdings) said dealings in its “debt securities” will be halted starting at 9 a.m. on Wednesday until the commencement of dealings in CKH Holding shares on the main board of the stock exchange.

“The directors currently expect that, subject to the scheme becoming effective, the listing of the shares on the main board will be withdrawn, and dealings in CKH Holdings shares will commence” on March 18 at 9 am. according to a filing of the company to Hong Kong stock exchange after the market close on Tuesday.

Cheung Kong shareholders had approved the reorganisation proposed for the company and associate Hutchison Whampoa on February 26.

Li, the chairman of both Cheung Kong and Hutchison, announced on January 9 that his two flagship companies will undergo a sweeping reorganization.

The business will be divided into non-property assets and property businesses, respectively, under the newly formed CK Hutchison Holdings, and Cheung Kong Property Holdings. Both firms would seek a stock exchange listing.

The massive restructuring plan - which will switch the incorporated base of Li’s companies to the Cayman Islands from Hong Kong – stoked market speculation that one of the richest men in Asia is gradually divesting himself of assets in Hong Kong and mainland China.