Li raises stake in Hutchison

Hutchison Whampoa chairman Li Ka-shing has increased his stake in the company for a sixth time this year by buying about $28 million shares.

Mr Li bought about 588,000 shares between May 8 and May 9, according to disclosure documents filed with the stock exchange.

He bought the shares at prices ranging from $45.90 to $47.40 each.

With the transaction, which came a little more than a week after his last Hutchison purchase, Mr Li's stake increased to 45.26 per cent from 45.24 per cent.

So far this year, the chairman has bought almost 39 million Hutchison shares, which would fetch $1.85 billion at yesterday's closing price of $47.50.