Li pair continue CK Asset buybacks

Business | Samantha Wong 12 Oct 2018

Senior advisor of CK Asset (1113) Li Ka-shing and chairman Victor Li Tzar-kuoi have increased their stakes in the company through the Li Ka Shing Foundation.

Li Ka-shing raised his stake in the company to 32.83 percent from previous 32.81, while stake of his eldest son Victor Li's climbed to 32.9 percent from 32.88 percent, according to stock exchange filings.

They bought the shares at an average price of HK$56.24.

Shares of CK Asset closed at HK$54.45 yesterday, down 3 percent.

Formerly known as Cheung Kong Property, the company's shares fell almost 20 percent from its peak level at HK$74.95 in early January this year. It had a market capitalization of HK$267 billion as of July 31.

Its business spans from Hong Kong property development to overseas property development and management.

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