RICHARD LI, youngest son of tycoon Li Ka-shing, will take control this week of what was once probably Canada's most innovative and successful securities firm, Gordon Capital Corp, according to reliable reports. The Toronto Globe and Mail said that two weeks ago in Toronto Mr Li approved the understanding reached by his advisers and Gordon's negotiators and invited the Gordon team to Hong Kong to close and announce the deal this week. The agreement will give him more than 50 per cent of privately-owned Gordon. He will buy shares from Gordon's senior partners and from minority shareholders such as Hollinger Inc (controlled by newspaper magnate Conrad Black) and Canada Life Insurance. Mr Li, 28, is already Gordon's biggest single shareholder with a 15 per cent stake. Mr Li was an executive director and partner of the firm in the late 1980s. Hutchison Whampoa owns five per cent. Mr Li decided recently to seek control to end an internal power struggle - the firm has been run by a triumvirate - restore its reputation, and get a decent return on his investment. In the late 1980s Gordon was the dominant Canadian equity underwriter and block trader. It was fast on its feet and highly profitable, but over the past few years its capital base has halved to about C$150 million (about HK$866.99 million).