HONG KONG businessman Li Ka-shing's disposal of his personal stake in SHK Hong Kong Industries is to get in line with the investment plan he set for the Cheung Kong (Holdings) group of companies this year, according to analysts.
The deal, by which he slashed his holdings in SHK from 20 to three per cent, does not necessarily have implications for SHK.
An analyst said he was simply buying and selling, as was his style.
Although there is no indication that the disposal will pave the way for a trend in off-loading stakes in his flagship company, Cheung Kong, analysts said the move coincided with his plans for Cheung Kong to trim its strategic investments.
On Monday, SHK Hong Kong Industries, a fund investing in listed and unlisted concerns in Hong Kong, Macau and China, said Mr Li reduced his holding in the company from 20.25 to 3.25 per cent.
SHK Hong Kong Industries is under the umbrella of Sun Hung Kai & Co.
No price tag has been put on the disposal, but it could be worth $154.74 million, based on the closing price of SHK shares on March 31, when the shares were offloaded.
