Opinion | Lee Shau-kee on biggest buying spree since 1993
Share purchases in Henderson and SHKP over the past four months worth HK$6.4 billion
Property tycoon Lee Shau-kee's share buying spree is shaping up to be his most active since 1993, according to the latest filings at Hong Kong Exchanges and Clearing.
Lee's purchases of shares in Henderson Land Development and Sun Hung Kai Properties over the past four months have been worth HK$6.4 billion.
That is more than half of the value of share buying by insiders in the past 12 weeks, during which 295 directors at 224 companies spent HK$12.2 billion on stocks.
Buying by directors across the market jumped again last week in volume terms, with 38 companies recording 194 deals worth HK$443 million, compared with the previous week's 26 firms in 124 acquisitions, although the value was a shade below the HK$469 million previously.
Selling was high for a third consecutive week, with the value of sales soaring 57 per cent from the previous week. The 55 director disposals at 13 firms totalled HK$168 million, compared with HK$107 million of stock sold in 54 transactions from 15 companies previously.
Lee's activities as a buyer stand out. He has acquired 92 million Henderson shares worth HK$4.6 billion since January, paying an average HK$50.07 per share. The trades boosted his holdings to 2.07 billion shares or 69.04 per cent of Henderson's issued capital and accounted for 13 per cent of the stock's trading volume.
