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Cheung Kong, Hutchison shares jump in Hong Kong on business revamp

2015-01-12 08:08:10| Real Estate - Topix.net

Shares of Cheung Kong Holdings Ltd and Hutchison Whampoa surged on Monday after Asia's richest man Li Ka-shing announced a restructuring of his business empire, a move he said was aimed at creating better value for shareholders. The group said on Friday that the Hong Kong conglomerate will split into two listed companies, one focusing on property and the other on telecoms, retail and energy, in a bid to boost their value and attract more investors.

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