Hong Kong stock exchange boss pockets HK$166.7 million in first sale of his HKEX stake since 2009
- Sale is the first reduction in CEO Charles Li’s personal stake since joining the bourse operator in October 2009
- Li is Hong Kong’s highest paid regulator based on his total compensation of HK$28.97 million in 2018
The boss of Hong Kong Exchanges and Clearing has pocketed HK$166.7 million (US$21.4 million) from the first sale of his personal stake in the operator of Asia’s third largest bourse.
Chief executive Charles Li Xiaojia sold 650,000 shares in HKEX on Wednesday at an average price of HK$256.53 each, according to an exchange filing late Thursday. The highest price transacted was HK$258, it said.
The sale trimmed his holding to 403,789 shares, or 0.03 per cent of the company, and marked the first time he has reduced his interest since joining the HKEX in October 2009. The filing did not disclose the cost of his holding in the HKEX shares.
A HKEX spokesperson has no comment on the filing, and could not make Li available for comment.
HKEX shares dropped 1 per cent on Thursday to HK$255, giving it a market capitalisation of HK$322.4 billion. They have risen 13 per cent so far this year.
The transaction came against the backdrop of concerns about future of Hong Kong as a financial centre following months of anti-government protests and a snub by the owner of London Stock Exchange to its US$36.4 billion takeover overtures earlier this year. China this week also unveiled steps to elevate Macau’s role beyond its traditional gambling hub.