appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

appConfig

filter

json

liveArticle

Peggy Sito

Sandy Li

Shareholders of Hutchison Whampoa on Monday voted in favour of the mega reorganisation proposed for the company and its parent CK Hutchison Holdings (CKH Holdings), bringing chairman Li Ka-shing’s restructuring plan for his business empire near to completion.
Hutchison said more than 99 per cent of votes from shareholders at a general meeting had been in favour of the merger plan.
 Li Kwok-suen, a fund manager at Phillip Capital Management, expects both CKH  and Hutchison Whampoa shares could fall when they resume trading on Tuesday.  
“The two stocks escaped the market correction,” he said. “They could come under downward pressure … there’s not much excitement to further drive up the shares.”
Speaking before an extraordinary meeting of CKH shareholders in February, which also approved the restructuring, Li Ka-shing said shareholders would see increased dividend payments after the merger of the two companies.
With Hutchison shareholders’ approval, the deal is expected to close in June.  
CKH proposed that it would offer Hutchison shareholders 0.684 CKH Holdings share for every Hutchison share. Under the proposed restructuring, Cheung Kong shareholders will receive one share in the newly registered CKH for every Cheung Kong share.  
Li  announced on January 9 that his two flagship companies’ non-property assets, including ports, telecommunications, retail, infrastructure and energy, would be injected into CKH.   
All property businesses of the two companies would be injected into Cheung Kong Property Holdings, which would seek a stock exchange listing.    
 
 
 


Hong Kong’s unified stock exchange opens for trading in 1986 – SCMP archive

BlackRock, at centre of Hutchison’s Panama ports row, has about US$16 bn in Chinese stocks

Hutchison says it is evaluating a potential spin-off of its worldwide telecoms business

Hutchison’s Panama ports exit inevitable as game has changed, analysts say

Hutchison Whampoa

Hutchison Whampoa shareholders vote in favour of group’s merger plan

Li Ka-shing, the chairman of CK Hutchison Holdings and Hutchison Whampoa, presiding over the restructuring of his business empire. Photo: Edward Wong

Business

Companies