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Li Ka-shing's Cheung Kong Infrastructure takes secondary listing on London Stock Exchange

2024-08-20

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Cheung Kong Infrastructure Group(CK Infrastructure Holdings, CKI)It is the first foreign company to take advantage of the biggest reform of UK listing rules in three decades.

Cheung Kong Infrastructure Group(CKI)The company, part of the global business empire of Hong Kong's richest man Li Ka-shing, launched a secondary listing on the London Stock Exchange on Monday, but the listing did not raise new funds.

As of 11 a.m. local time on Monday in London, the infrastructure and energy company's shares were trading at 5.64 pounds on the London Stock Exchange, a discount of 0.14% to the closing price of 56.55 Hong Kong dollars on the same day for the Hong Kong-listed shares.

CK Infrastructure is the first foreign company to take advantage of the biggest reform of UK listing rules in nearly three decades, which aims to revive Britain's sluggish capital markets and make them more competitive with US stock exchanges. The reforms, which came into effect at the end of July, include a new category to attract non-UK-registered companies that already have a primary listing overseas.

Li Zeju, chairman of Cheung Kong Hutchison Holdings, the parent company of Cheung Kong Infrastructure(Victor Li)At an analyst conference last Friday, Li Ka-shing said there were no plans for a secondary listing of other companies under the Cheung Kong Group in the UK. Li Ka-shing is the eldest son of Li Ka-shing and is also the chairman of Hong Kong real estate developer Cheung Kong Holdings. Cheung Kong Hutchison Holdings and Cheung Kong Holdings are the flagship companies of the Cheung Kong Group.