Tycoon Li Ka-shing leads Hong Kong directors’ buying of own-company shares for a second week
The city’s richest man buys another US$30 million of shares in his conglomerate’s property arm, CK Asset Holdings
Tycoon Li Ka-shing led Hong Kong company directors’ buying of shares in their own firms in value terms for a second straight week, with purchases of stock in CK Asset Holdings, the property arm of his conglomerate.
Li, chairman of CK Hutchison Holdings and CK Asset Holdings and Hong Kong’s richest man, bought 3.48 million shares in CK Asset Holdings worth HK$234 million (US$29.8 million), bringing his total purchases in the firm this month to 14.64 million shares worth HK$975 million.
The total purchases, which were made from April 10 to 25 at an average of HK$66.57 each, boosted his stake to 1.176 billion shares or 31.82 per cent of the issued capital. The stock closed at HK$67 on Friday.
A total of 58 companies recorded 288 purchases by directors worth HK$753 million, versus 13 firms with 42 disposals worth HK$335 million, based on filings to the stock exchange from April 23 to 27.
The number of companies and trades on the buying side was up from the previous week’s 48 firms and 247 purchases but the value was down from the previous week’s HK$1.13 billion.
In terms of selling, the number of companies and trades was down from the previous week’s 16 firms and 73 disposals while the sell value was sharply up from the previous week’s HK$79 million.
