HK's Hutchison shares halted pending court hearing on reorganization
Reuters
Published Mar 16, 2015 09:27PM ET
HK's Hutchison shares halted pending court hearing on reorganization
HONG KONG (Reuters) - Hutchison Whampoa Ltd (HK:0013), the ports-to-telecoms group of Asia's richest man Li Ka-shing, requested a trading halt on its shares pending a court ruling on a proposed reorganization with Cheung Kong Holdings Ltd (HK:0001).
The reorganization is part of a plan by Li unveiled in January under which Hutchison will sell its real estate businesses to Cheung Kong, which will continue to focus on the property sector.
Shares of Cheung Kong had been halted since March 10.
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Written By: Reuters
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